WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,277 shares of the utilities provider's stock after purchasing an additional 2,691 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in WEC Energy Group were worth $3,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in shares of WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after buying an additional 268 shares during 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. purchased a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $42,000. Human Investing LLC acquired a new position in shares of WEC Energy Group in the fourth quarter valued at approximately $52,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after purchasing an additional 345 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

WEC stock traded up $0.85 during midday trading on Friday, hitting $105.64. 4,442,893 shares of the stock were exchanged, compared to its average volume of 2,141,735. The stock's 50-day moving average price is $106.91 and its 200-day moving average price is $102.61. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The stock has a market cap of $33.71 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.60 and a beta of 0.46. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00.

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 (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business's revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.97 EPS. Research analysts predict 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. Investors of record on Wednesday, May 14th were paid a $0.8975 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.40%. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is presently 69.59%.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent analyst reports. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Barclays raised their price target on 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. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, Wells Fargo & Company increased their price objective 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $107.13.

Insider Buying and Selling at WEC Energy Group

In related 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 transaction, the vice president now owns 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.

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.