Oppenheimer Asset Management Inc. Buys 38,456 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Oppenheimer Asset Management Inc. increased its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 196.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,991 shares of the utilities provider's stock after purchasing an additional 38,456 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in WEC Energy Group were worth $6,320,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WEC. First Horizon Advisors Inc. raised its holdings in WEC Energy Group by 30.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,254 shares of the utilities provider's stock worth $118,000 after purchasing an additional 290 shares during the period. Wealthspire Advisors LLC raised its holdings in WEC Energy Group by 3.6% in the 4th quarter. Wealthspire Advisors LLC now owns 9,527 shares of the utilities provider's stock worth $896,000 after purchasing an additional 327 shares during the period. Capital Advisors Ltd. LLC raised its holdings in WEC Energy Group by 14.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider's stock worth $86,000 after purchasing an additional 118 shares during the period. IFP Advisors Inc raised its holdings in WEC Energy Group by 10.7% in the 4th quarter. IFP Advisors Inc now owns 12,978 shares of the utilities provider's stock worth $1,221,000 after purchasing an additional 1,250 shares during the period. Finally, CWS Financial Advisors LLC raised its holdings in WEC Energy Group by 58.2% in the 4th quarter. CWS Financial Advisors LLC now owns 3,293 shares of the utilities provider's stock worth $310,000 after purchasing an additional 1,212 shares during the period. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on WEC. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday. Barclays increased their price target on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $107.13.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president now owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Trading Down 0.1%

Shares of WEC Energy Group stock opened at $105.39 on Wednesday. The firm has a market cap of $33.63 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.90 and a beta of 0.45. The business has a 50-day moving average price of $106.63 and a 200-day moving average price of $103.08. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business's quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 earnings per share. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a $0.8975 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.41%. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) is currently 69.59%.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.

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