Parr Mcknight Wealth Management Group LLC Has $2.25 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Parr Mcknight Wealth Management Group LLC trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,646 shares of the utilities provider's stock after selling 5,227 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in WEC Energy Group were worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of WEC. Leavell Investment Management Inc. grew its stake in WEC Energy Group by 3.5% in the first quarter. Leavell Investment Management Inc. now owns 31,031 shares of the utilities provider's stock valued at $3,382,000 after purchasing an additional 1,043 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in WEC Energy Group by 34.0% in the first quarter. Axxcess Wealth Management LLC now owns 8,356 shares of the utilities provider's stock valued at $911,000 after purchasing an additional 2,121 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in WEC Energy Group by 5.5% in the first quarter. Rehmann Capital Advisory Group now owns 5,637 shares of the utilities provider's stock valued at $614,000 after purchasing an additional 293 shares in the last quarter. AlphaStar Capital Management LLC grew its stake in WEC Energy Group by 15.9% in the first quarter. AlphaStar Capital Management LLC now owns 6,251 shares of the utilities provider's stock valued at $681,000 after purchasing an additional 856 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of WEC Energy Group by 5.4% during the 1st quarter. Stratos Wealth Partners LTD. now owns 98,796 shares of the utilities provider's stock worth $10,767,000 after acquiring an additional 5,049 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other WEC Energy Group 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 sale, the vice president owned 2,686 shares of the company's stock, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WEC. 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. Barclays boosted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. Finally, The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and a consensus target price of $106.33.

WEC Energy Group Trading Down 0.0%

Shares of NYSE:WEC traded down $0.05 during midday trading on Friday, hitting $105.63. The company had a trading volume of 664,756 shares, compared to its average volume of 2,148,635. The firm has a fifty day simple moving average of $105.58 and a 200 day simple moving average of $103.77. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.86 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $78.59 and a 12 month high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.09. The firm had revenue of $3.15 billion for 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 company's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.97 earnings per share. On average, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were paid a $0.8975 dividend. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.40%. WEC Energy Group's dividend payout ratio (DPR) is currently 69.59%.

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.