Stoneridge Investment Partners LLC Buys 21,102 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Stoneridge Investment Partners LLC raised its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 68.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,850 shares of the utilities provider's stock after purchasing an additional 21,102 shares during the quarter. WEC Energy Group comprises approximately 1.8% of Stoneridge Investment Partners LLC's investment portfolio, making the stock its 17th biggest holding. Stoneridge Investment Partners LLC's holdings in WEC Energy Group were worth $4,364,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tennessee Valley Asset Management Partners acquired a new position in shares of WEC Energy Group during the 4th quarter valued at $26,000. Valued Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $28,000. Fortitude Family Office LLC acquired a new stake in WEC Energy Group during the fourth quarter valued at approximately $33,000. Authentikos Wealth Advisory LLC bought a new stake in WEC Energy Group during the third quarter worth approximately $38,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of WEC Energy Group in the fourth quarter valued at $40,000. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $0.15 during trading on Friday, reaching $85.43. The stock had a trading volume of 2,226,079 shares, compared to its average volume of 1,839,917. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $81.38 and a two-hundred day simple moving average of $81.52. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 2.45 and a beta of 0.40. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $94.96.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.07. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. As a group, analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Monday, May 13th. WEC Energy Group's dividend payout ratio is currently 72.93%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered WEC Energy Group from a "neutral" rating to an "underweight" rating and cut their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. StockNews.com upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Thursday. Wells Fargo & Company cut their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an "overweight" rating on the stock in a report on Friday, February 2nd. KeyCorp upped their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Finally, BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the stock a "market perform" rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $86.29.

Insider Buying and Selling

In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now directly owns 274,782 shares of the company's stock, valued at $21,622,595.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company's stock, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company's stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.