Penserra Capital Management LLC Has $923,000 Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Penserra Capital Management LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 922.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,479 shares of the utilities provider's stock after acquiring an additional 7,650 shares during the period. Penserra Capital Management LLC's holdings in WEC Energy Group were worth $923,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted 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 bought a new position in WEC Energy Group during the first quarter worth about $32,000. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group during the fourth quarter worth about $28,000. Golden State Wealth Management LLC boosted 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. bought a new position in WEC Energy Group during the fourth quarter worth about $42,000. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Down 0.2%

Shares of NYSE:WEC traded down $0.19 during trading on Friday, hitting $105.49. 1,631,851 shares of the company were exchanged, compared to its average volume of 2,153,386. The stock has a market cap of $33.67 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 2.90 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $79.47 and a fifty-two week high of $111.00. The firm has a fifty day moving average price of $105.52 and a two-hundred day moving average price of $103.84. 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 posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. The business 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 firm's revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.97 EPS. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. The ex-dividend date was Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.40%. WEC Energy Group's payout ratio is presently 69.59%.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the business'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. The trade was 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 company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on WEC. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday. Barclays lifted their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. UBS Group lifted their target price on WEC Energy Group from $105.00 to $107.00 and gave the company a "neutral" rating in a research report on Friday. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $106.40.

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.