Parr Mcknight Wealth Management Group LLC Reduces Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Parr Mcknight Wealth Management Group LLC reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,646 shares of the utilities provider's stock after selling 5,227 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in WEC Energy Group were worth $2,250,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Larson Financial Group LLC increased its holdings in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after buying an additional 268 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter worth about $32,000. Prudent Man Investment Management Inc. purchased a new stake in WEC Energy Group during the fourth quarter worth about $28,000. Golden State Wealth Management LLC increased its holdings in WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after buying an additional 245 shares during the last quarter. Finally, Hoey Investments Inc. purchased a new stake in WEC Energy Group during the fourth quarter worth about $42,000. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group lifted their target price on shares of WEC Energy Group from $105.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.40.

WEC Energy Group Stock Performance

WEC Energy Group stock traded down $0.19 during midday trading on Friday, hitting $105.49. The stock had a trading volume of 1,631,851 shares, compared to its average volume of 2,155,152. The firm's fifty day moving average is $105.52 and its two-hundred day moving average is $103.96. The company has a market capitalization of $33.67 billion, a PE ratio of 20.56, a P/E/G ratio of 2.90 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $79.47 and a 52-week high of $111.00. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm posted $1.97 EPS. The company's revenue was up 17.5% on a year-over-year basis. On average, research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current 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 is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.40%. WEC Energy Group's dividend payout ratio (DPR) is currently 69.59%.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction on 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 sale, the vice president directly owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.