573,900 Shares in WEC Energy Group, Inc. (NYSE:WEC) Bought by Talaria Asset Management Pty Ltd

Talaria Asset Management Pty Ltd acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 573,900 shares of the utilities provider's stock, valued at approximately $53,970,000. WEC Energy Group comprises approximately 13.9% of Talaria Asset Management Pty Ltd's portfolio, making the stock its 2nd biggest holding. Talaria Asset Management Pty Ltd owned about 0.18% of WEC Energy Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its position in 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 worth $26,000 after purchasing 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 worth approximately $28,000. Hoey Investments Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $42,000. Human Investing LLC acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $52,000. Finally, Cullen Frost Bankers Inc. increased its position in WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Transactions at WEC Energy Group

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares of the company's stock, valued at $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WEC. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. 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 increased their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, Barclays increased their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. 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 data from MarketBeat.com, WEC Energy Group has an average rating of "Hold" and an average price target of $107.13.

WEC Energy Group Stock Up 1.4%

NYSE:WEC traded up $1.49 during trading hours on Friday, hitting $107.51. The stock had a trading volume of 2,612,257 shares, compared to its average volume of 2,144,765. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year 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 company has a market cap of $34.31 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The business has a 50 day simple moving average of $106.98 and a two-hundred day simple moving average of $102.38.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $1.97 earnings per share. The business's quarterly revenue was up 17.5% compared to the same quarter last year. Analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) 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.