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

Parr Mcknight Wealth Management Group LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of WEC Energy Group by 134.2% in the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the period. Geode Capital Management LLC increased its stake in WEC Energy Group by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock worth $756,423,000 after buying an additional 110,802 shares during the period. Deutsche Bank AG increased its stake in WEC Energy Group by 3.1% during the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock worth $538,112,000 after buying an additional 173,006 shares during the period. Invesco Ltd. increased its stake in WEC Energy Group by 7.9% during the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock worth $396,114,000 after buying an additional 309,697 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in WEC Energy Group by 15.4% during the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock worth $370,128,000 after buying an additional 526,014 shares during the period. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 0.7%

NYSE WEC opened at $104.35 on Thursday. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The company has a 50-day simple moving average of $105.64 and a 200-day simple moving average of $103.69. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50. The firm has a market capitalization of $33.30 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.85 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly 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. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The company's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.97 EPS. On average, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a yield of 3.44%. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's payout ratio is presently 69.59%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Sunday, June 29th. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, WEC Energy Group currently has an average rating of "Hold" and a consensus target price of $106.33.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president directly owned 2,686 shares of the company's stock, valued at $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by 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.

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