SkyOak Wealth LLC Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

SkyOak Wealth LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,244 shares of the utilities provider's stock, valued at approximately $354,000.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in shares of WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after buying an additional 268 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at $32,000. Golden State Wealth Management LLC grew its stake in shares of WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after buying an additional 245 shares during the period. Finally, Hoey Investments Inc. purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WEC shares. UBS Group boosted their price objective on shares of WEC Energy Group from $105.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their target price 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. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their target price for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Barclays lifted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $106.40.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the business'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 sale, the vice president owned 2,686 shares of the company's stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company's stock.

WEC Energy Group Stock Down 0.2%

WEC stock traded down $0.19 during trading on Friday, reaching $105.49. The stock had a trading volume of 1,631,851 shares, compared to its average volume of 2,153,386. WEC Energy Group, Inc. has a 1-year low of $79.47 and a 1-year high of $111.00. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $33.67 billion, a P/E ratio of 20.56, a PEG ratio of 2.90 and a beta of 0.44. The firm has a fifty day moving average price of $105.52 and a 200 day moving average price of $103.84.

WEC Energy Group (NYSE:WEC - Get Free Report) last released 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. The company 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 17.95% and a return on equity of 12.94%. The company's revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.97 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a $0.8975 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.40%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's payout ratio is presently 69.59%.

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.