Price Capital Management Inc. Makes New $1.51 Million Investment in WEC Energy Group, Inc. (NYSE:WEC)

Price Capital Management Inc. purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,840 shares of the utilities provider's stock, valued at approximately $1,508,000. WEC Energy Group accounts for about 3.8% of Price Capital Management Inc.'s holdings, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Richardson Financial Services Inc. lifted its stake in shares of WEC Energy Group by 9.0% during the 1st quarter. Richardson Financial Services Inc. now owns 1,823 shares of the utilities provider's stock worth $199,000 after acquiring an additional 150 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $1,010,000. SYM FINANCIAL Corp lifted its stake in shares of WEC Energy Group by 2.5% during the 1st quarter. SYM FINANCIAL Corp now owns 5,184 shares of the utilities provider's stock worth $565,000 after acquiring an additional 125 shares during the last quarter. Loudon Investment Management LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth approximately $784,000. Finally, Hartford Funds Management Co LLC lifted its stake in shares of WEC Energy Group by 26.6% during the 1st quarter. Hartford Funds Management Co LLC now owns 4,390 shares of the utilities provider's stock worth $478,000 after acquiring an additional 922 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Insiders Place Their Bets

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 transaction of $232,244.35. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Stock Up 0.6%

Shares of NYSE:WEC traded up $0.62 on Thursday, reaching $109.65. The company had a trading volume of 1,297,679 shares, compared to its average volume of 2,216,611. WEC Energy Group, Inc. has a 52-week low of $82.90 and a 52-week high of $111.00. The firm's 50 day simple moving average is $105.59 and its 200-day simple moving average is $104.55. The firm has a market capitalization of $34.99 billion, a PE ratio of 21.38, a PEG ratio of 3.03 and a beta of 0.44. 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 announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the business posted $1.97 EPS. The business's revenue was up 17.5% compared to the same quarter last year. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. The ex-dividend date is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.26%. WEC Energy Group's dividend payout ratio (DPR) is 69.59%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WEC. 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 note on Wednesday, June 25th. JPMorgan Chase & Co. upgraded 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. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Barclays raised their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Finally, UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, WEC Energy Group currently has an average rating of "Hold" and a consensus price target of $106.40.

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.