Strategic Financial Concepts LLC Cuts Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Strategic Financial Concepts LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 98.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,039 shares of the utilities provider's stock after selling 132,117 shares during the period. Strategic Financial Concepts LLC's holdings in WEC Energy Group were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Larson Financial Group LLC boosted its holdings in shares of 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 buying an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at about $32,000. Golden State Wealth Management LLC boosted its holdings in shares of WEC Energy Group by 252.6% in 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 in the last quarter. Finally, Hoey Investments Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $42,000. 77.20% of the stock is currently owned by institutional investors.

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 that occurred on 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 directly owned 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded up $0.75 during midday trading on Friday, hitting $104.50. The company had a trading volume of 1,033,837 shares, compared to its average volume of 2,151,025. The stock has a market cap of $33.35 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.86 and a beta of 0.44. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $105.94 and a 200 day simple moving average of $103.62. 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 posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm posted $1.97 EPS. WEC Energy Group's revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.44%. WEC Energy Group's dividend payout ratio (DPR) is currently 69.59%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WEC. Barclays raised their price target 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. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $106.33.

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.