WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,978 shares of the utilities provider's stock after selling 4,452 shares during the period. Mattern Capital Management LLC's holdings in WEC Energy Group were worth $9,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Marcum Wealth LLC increased its position in shares of WEC Energy Group by 1.3% in the 1st quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider's stock valued at $808,000 after acquiring an additional 93 shares during the period. Clean Yield Group increased its position in shares of WEC Energy Group by 12.6% in the 1st quarter. Clean Yield Group now owns 867 shares of the utilities provider's stock valued at $94,000 after acquiring an additional 97 shares during the period. MJP Associates Inc. ADV increased its position in shares of WEC Energy Group by 3.4% in the 4th quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock valued at $284,000 after acquiring an additional 98 shares during the period. Premier Path Wealth Partners LLC increased its position in shares of WEC Energy Group by 3.0% in the 1st quarter. Premier Path Wealth Partners LLC now owns 3,335 shares of the utilities provider's stock valued at $363,000 after acquiring an additional 98 shares during the period. Finally, Peak Financial Advisors LLC increased its position in shares of WEC Energy Group by 1.9% in the 1st quarter. Peak Financial Advisors LLC now owns 5,339 shares of the utilities provider's stock valued at $582,000 after acquiring an additional 100 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Joshua M. Erickson sold 2,155 shares of the firm's 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 sale, the vice president now directly owns 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.50% of the company's stock.

WEC Energy Group Price Performance

NYSE:WEC opened at $105.39 on Wednesday. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. 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 stock has a market capitalization of $33.63 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45. The stock's 50-day moving average price is $106.63 and its 200-day moving average price is $103.08.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results 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 12.94% and a net margin of 17.95%. The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the firm earned $1.97 EPS. The company's quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities analysts expect 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 given a dividend of $0.8975 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This is a boost 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 3.41%. WEC Energy Group's dividend payout ratio (DPR) is 69.59%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WEC. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Wall Street Zen lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company lifted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Barclays lifted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $107.13.

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.

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