6,102 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Richmond Investment Services LLC

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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,102 shares of the utilities provider's stock, valued at approximately $574,000.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its position in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after acquiring an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new stake in WEC Energy Group during the 4th quarter valued at $28,000. Hoey Investments Inc. purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at $42,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $52,000. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after buying an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on WEC shares. 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 research report on Tuesday, April 8th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. BMO Capital Markets lifted their target price on shares of 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. Wells Fargo & Company increased their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Barclays upped their target price on 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $107.13.

WEC Energy Group Stock Performance

WEC Energy Group stock traded down $2.26 during trading hours on Wednesday, reaching $105.30. 1,625,757 shares of the company were exchanged, compared to its average volume of 2,143,736. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. 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 stock has a 50-day moving average of $106.94 and a 200 day moving average of $102.24. The firm has a market cap of $33.60 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior 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 year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $0.8975 dividend. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group's payout ratio is currently 69.59%.

Insider Transactions 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 transaction of $232,244.35. Following the completion of the transaction, the vice president now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 25,000 shares of the company'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 value of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

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.