ProShare Advisors LLC Sells 36,044 Shares of WEC Energy Group, Inc. (NYSE:WEC)

ProShare Advisors LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 42.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 47,960 shares of the utilities provider's stock after selling 36,044 shares during the period. ProShare Advisors LLC's holdings in WEC Energy Group were worth $4,510,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Annex Advisory Services LLC boosted its position in WEC Energy Group by 6.5% in the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider's stock valued at $10,405,000 after buying an additional 6,785 shares during the last quarter. Walkner Condon Financial Advisors LLC bought a new position in WEC Energy Group in the 4th quarter valued at $271,000. Merit Financial Group LLC boosted its position in WEC Energy Group by 46.4% in the 4th quarter. Merit Financial Group LLC now owns 15,991 shares of the utilities provider's stock valued at $1,504,000 after buying an additional 5,069 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the 4th quarter worth $257,000. Finally, SG Americas Securities LLC boosted its position in shares of WEC Energy Group by 46.5% in the 4th quarter. SG Americas Securities LLC now owns 65,913 shares of the utilities provider's stock worth $6,198,000 after purchasing an additional 20,918 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Performance

WEC stock opened at $107.28 on Tuesday. The business's 50-day moving average price is $106.97 and its two-hundred day moving average price is $101.83. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm has a market cap of $34.24 billion, a PE ratio of 22.21, a P/E/G ratio of 2.60 and a beta of 0.46. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year 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. 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 for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company posted $1.97 earnings per share. The company's revenue for the quarter was up 17.5% on a year-over-year basis. As a group, research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be paid a $0.8975 dividend. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.35%. WEC Energy Group's dividend payout ratio (DPR) is currently 69.59%.

Wall Street Analysts Forecast Growth

WEC has been the topic of several recent research reports. Wells Fargo & Company raised their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. BMO Capital Markets raised their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 5th. Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and a consensus price target of $107.13.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now owns 21,951 shares of the company's stock, valued at $2,286,635.67. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group 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 completion of the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

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.

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