Soroban Capital Partners LP Sells 398,251 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Soroban Capital Partners LP decreased its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,148,478 shares of the utilities provider's stock after selling 398,251 shares during the quarter. WEC Energy Group accounts for approximately 1.4% of Soroban Capital Partners LP's holdings, making the stock its 18th biggest holding. Soroban Capital Partners LP owned approximately 0.36% of WEC Energy Group worth $108,003,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Larson Financial Group LLC raised its position in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $42,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $52,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 345 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 1.3%

Shares of WEC stock traded up $1.33 on Friday, reaching $106.82. The company had a trading volume of 1,838,006 shares, compared to its average volume of 2,146,517. 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 market cap of $34.09 billion, a PE ratio of 22.12, a PEG ratio of 2.60 and a beta of 0.46. The company has a 50-day moving average of $106.96 and a 200-day moving average of $102.05. 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 quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group's revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.97 EPS. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Wednesday, May 14th. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's payout ratio is 69.59%.

Wall Street Analyst Weigh In

WEC has been the subject of a number of research reports. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their target price 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 WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Barclays boosted 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. Finally, Wells Fargo & Company boosted their target price 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $107.13.

Insider Activity

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now owns 2,686 shares of the company's stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,305 shares of company stock worth $3,067,540 in the last 90 days. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group 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.