WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,519,401 shares of the utilities provider's stock after buying an additional 430,269 shares during the period. Envestnet Asset Management Inc. owned 0.79% of WEC Energy Group worth $274,564,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Penserra Capital Management LLC increased its stake in WEC Energy Group by 922.8% during the 1st quarter. Penserra Capital Management LLC now owns 8,479 shares of the utilities provider's stock worth $923,000 after acquiring an additional 7,650 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in WEC Energy Group by 6.5% in the first quarter. Concurrent Investment Advisors LLC now owns 22,651 shares of the utilities provider's stock valued at $2,469,000 after acquiring an additional 1,376 shares during the last quarter. HM Payson & Co. raised its position in shares of WEC Energy Group by 9.5% in the 1st quarter. HM Payson & Co. now owns 11,398 shares of the utilities provider's stock worth $1,242,000 after acquiring an additional 985 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of WEC Energy Group during the 1st quarter valued at $103,000. Finally, IFM Investors Pty Ltd boosted its holdings in WEC Energy Group by 9.4% in the first quarter. IFM Investors Pty Ltd now owns 94,686 shares of the utilities provider's stock worth $10,319,000 after acquiring an additional 8,152 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 0.1%

Shares of WEC traded up $0.08 during mid-day trading on Wednesday, hitting $103.74. 437,818 shares of the company's stock traded hands, compared to its average volume of 2,143,443. 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 business's 50-day moving average price is $105.74 and its 200-day moving average price is $103.69. The firm has a market capitalization of $33.11 billion, a P/E ratio of 20.18, a PEG ratio of 2.86 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its 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. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business's revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.97 EPS. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a dividend yield of 3.46%. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the sale, the vice president directly owned 2,686 shares of the company's stock, valued at approximately $289,470.22. This represents 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. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WEC. Barclays increased 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 shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. 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. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price target for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. 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. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of "Hold" and a consensus price target of $106.33.

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.