Richmond Investment Services LLC Invests $574,000 in WEC Energy Group, Inc. (NYSE:WEC)

Richmond Investment Services LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,102 shares of the utilities provider's stock, valued at approximately $574,000.

Other large investors also recently modified their holdings of the company. Parr Mcknight Wealth Management Group LLC acquired a new position in WEC Energy Group in the fourth quarter worth about $2,433,000. GTS Securities LLC acquired a new position in WEC Energy Group in the fourth quarter worth about $475,000. Vise Technologies Inc. grew its stake in WEC Energy Group by 106.0% in the fourth quarter. Vise Technologies Inc. now owns 6,504 shares of the utilities provider's stock worth $612,000 after purchasing an additional 3,346 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its stake in WEC Energy Group by 44.0% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 4,680 shares of the utilities provider's stock worth $440,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in WEC Energy Group by 6.1% in the fourth quarter. Continuum Advisory LLC now owns 4,614 shares of the utilities provider's stock worth $434,000 after purchasing an additional 265 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on WEC. Barclays lifted their price target on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. BMO Capital Markets raised their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company boosted 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $107.13.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded up $0.82 during trading on Tuesday, hitting $107.60. 2,074,964 shares of the stock were exchanged, compared to its average volume of 2,145,808. The stock's fifty day moving average is $106.94 and its 200 day moving average is $102.20. The stock has a market cap of $34.34 billion, a PE ratio of 22.28, a P/E/G ratio of 2.60 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its 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. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.97 EPS. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is currently 69.59%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president now directly owns 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

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.