Optas LLC Buys New Shares in WEC Energy Group, Inc. (NYSE:WEC)

Optas LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,022 shares of the utilities provider's stock, valued at approximately $329,000.

A number of other hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings in WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group in the first quarter valued at approximately $32,000. Hoey Investments Inc. acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $42,000. Finally, Human Investing LLC purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the sale, the vice president now owns 2,686 shares in the company, valued at $289,470.22. This represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 1.4%

Shares of WEC opened at $104.92 on Monday. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The stock has a 50-day moving average price of $106.83 and a 200 day moving average price of $102.83. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a market capitalization of $33.48 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.81 billion. During the same period in the prior year, the business posted $1.97 EPS. The business's revenue was up 17.5% on a year-over-year basis. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were paid a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is 69.59%.

Analyst Ratings Changes

Several research firms recently weighed in on WEC. Barclays lifted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company increased their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $107.13.

WEC Energy Group Company Profile

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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