Vaughan Nelson Investment Management L.P. Purchases Shares of 390,230 WEC Energy Group, Inc. (NYSE:WEC)

Vaughan Nelson Investment Management L.P. purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 390,230 shares of the utilities provider's stock, valued at approximately $42,527,000. Vaughan Nelson Investment Management L.P. owned 0.12% of WEC Energy Group as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WEC. Opal Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the first quarter valued at approximately $32,000. IAG Wealth Partners LLC boosted its stake in WEC Energy Group by 3.0% in the 1st quarter. IAG Wealth Partners LLC now owns 6,072 shares of the utilities provider's stock valued at $662,000 after buying an additional 179 shares in the last quarter. Campbell Newman Asset Management Inc. acquired a new stake in WEC Energy Group in the 1st quarter valued at $23,219,000. Wealth Enhancement Advisory Services LLC boosted its stake in WEC Energy Group by 16.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider's stock valued at $26,702,000 after buying an additional 34,986 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in WEC Energy Group by 1.9% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 13,029 shares of the utilities provider's stock valued at $1,420,000 after buying an additional 240 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 0.1%

NYSE WEC traded down $0.09 on Tuesday, reaching $104.06. The company had a trading volume of 1,096,544 shares, compared to its average volume of 2,141,408. The stock's 50 day moving average is $106.86 and its 200-day moving average is $102.85. The stock has a market cap of $33.21 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. The firm's revenue was up 17.5% on a year-over-year basis. Equities analysts predict 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 was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued 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 dividend yield of 3.45%. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's dividend payout ratio is 69.59%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WEC. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Barclays boosted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 29th. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $107.13.

Insiders Place Their Bets

In related news, 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 transaction of $232,244.35. Following the completion of the transaction, the vice president now directly owns 2,686 shares in the company, 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. 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.