DAVENPORT & Co LLC Buys 12,665 Shares of WEC Energy Group, Inc. (NYSE:WEC)

DAVENPORT & Co LLC increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 55.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,710 shares of the utilities provider's stock after purchasing an additional 12,665 shares during the quarter. DAVENPORT & Co LLC's holdings in WEC Energy Group were worth $3,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WEC. Larson Financial Group LLC increased its position in WEC Energy Group by 3,828.6% during 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 stake in WEC Energy Group during the 4th quarter worth about $28,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the 1st quarter worth about $32,000. Golden State Wealth Management LLC increased its position in WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Finally, Hoey Investments Inc. purchased a new stake in WEC Energy Group during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 77.20% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEC. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Barclays boosted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. upgraded 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 research report on Tuesday, April 8th. Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company upped their price objective on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.33.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president directly owned 2,686 shares of the company's stock, valued at $289,470.22. This represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 0.0%

Shares of WEC Energy Group stock traded down $0.01 on Monday, reaching $104.33. 1,365,452 shares of the company were exchanged, compared to its average volume of 2,147,897. The stock has a fifty day moving average price of $105.85 and a 200-day moving average price of $103.69. The firm has a market capitalization of $33.29 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 2.86 and a beta of 0.44. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. 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 posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. WEC Energy Group's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.97 earnings per share. On average, analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a yield of 3.44%. 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 payout ratio is presently 69.59%.

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.