Parr Mcknight Wealth Management Group LLC Buys Shares of 25,873 WEC Energy Group, Inc. (NYSE:WEC)

Parr Mcknight Wealth Management Group LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,873 shares of the utilities provider's stock, valued at approximately $2,433,000.

A number of other institutional investors and hedge funds have also modified their holdings of WEC. Wellington Management Group LLP increased its stake in WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of WEC Energy Group by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock valued at $756,423,000 after buying an additional 110,802 shares during the period. Deutsche Bank AG boosted its holdings in shares of WEC Energy Group by 3.1% in the fourth quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock valued at $538,112,000 after buying an additional 173,006 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of WEC Energy Group by 7.9% in the fourth quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock valued at $396,114,000 after buying an additional 309,697 shares during the period. 77.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company's stock, valued at $29,865,612.10. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,305 shares of company stock valued at $3,067,540 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WEC has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $107.13.

WEC Energy Group Stock Performance

WEC stock traded up $1.33 during trading hours on Friday, reaching $106.82. The stock had a trading volume of 1,838,006 shares, compared to its average volume of 2,146,092. The stock has a market capitalization of $34.09 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock has a 50-day simple moving average of $106.96 and a 200 day simple moving average of $102.14. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS 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 analysts' expectations of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.97 earnings per share. Analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a $0.8975 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.36%. WEC Energy Group's dividend payout ratio is presently 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.