WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 324,433 shares of the utilities provider's stock after selling 129,512 shares during the quarter. Gateway Investment Advisers LLC owned 0.10% of WEC Energy Group worth $35,357,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in 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 worth $26,000 after purchasing an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $28,000. Hoey Investments Inc. acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $42,000. Human Investing LLC purchased a new stake in WEC Energy Group during the fourth quarter worth $52,000. Finally, Cullen Frost Bankers Inc. grew its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after buying an additional 345 shares during the period. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 0.8%

Shares of WEC stock opened at $105.64 on Friday. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. 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's fifty day moving average is $106.84 and its two-hundred day moving average is $102.66. The firm has a market capitalization of $33.71 billion, a P/E ratio of 21.87, a PEG ratio of 2.60 and a beta of 0.46.

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 for the quarter, topping the consensus estimate 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 net margin of 17.75% and a return on equity of 12.39%. The company's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $1.97 earnings per share. Research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a $0.8975 dividend. 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 dividend yield of 3.40%. WEC Energy Group's dividend payout ratio is 69.59%.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Wells Fargo & Company lifted their target price 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. Finally, Barclays boosted their target price on shares of 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $107.13.

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.

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