Precedent Wealth Partners LLC Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Precedent Wealth Partners LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,821 shares of the utilities provider's stock, valued at approximately $743,000.

A number of other large investors have also modified their holdings of the stock. Clean Yield Group increased its position in shares of WEC Energy Group by 12.6% in the 1st quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after purchasing an additional 97 shares during the last quarter. Callan Family Office LLC purchased a new position in WEC Energy Group in the fourth quarter valued at $369,000. Empowered Funds LLC increased its holdings in WEC Energy Group by 23.1% in the fourth quarter. Empowered Funds LLC now owns 14,281 shares of the utilities provider's stock valued at $1,343,000 after buying an additional 2,680 shares during the last quarter. Teacher Retirement System of Texas raised its stake in WEC Energy Group by 39.9% in the fourth quarter. Teacher Retirement System of Texas now owns 2,959 shares of the utilities provider's stock valued at $278,000 after buying an additional 844 shares in the last quarter. Finally, Marshall Investment Management LLC purchased a new stake in WEC Energy Group during the 4th quarter worth about $422,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. 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. Barclays boosted their price objective on shares of 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 shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their target price for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $107.13.

Insider Activity

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction that occurred 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 sale, the vice president now directly owns 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $1.03 on Monday, reaching $104.08. The company's stock had a trading volume of 2,113,020 shares, compared to its average volume of 2,145,365. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The stock has a market capitalization of $33.21 billion, a P/E ratio of 21.55, a PEG ratio of 2.60 and a beta of 0.45. The stock's 50-day moving average is $106.83 and its two-hundred day moving average is $102.83. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business earned $1.97 EPS. The firm's revenue was up 17.5% compared to the same quarter last year. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were paid a $0.8975 dividend. This represents a $3.59 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Wednesday, May 14th. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) is 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.