Scientech Research LLC Buys 3,167 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Scientech Research LLC lifted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,825 shares of the utilities provider's stock after acquiring an additional 3,167 shares during the period. Scientech Research LLC's holdings in WEC Energy Group were worth $1,300,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group in the fourth quarter worth $28,000. Hoey Investments Inc. purchased a new position in WEC Energy Group during the fourth quarter worth about $42,000. Human Investing LLC bought a new position in WEC Energy Group in the 4th quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 345 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Down 1.1%

WEC traded down $1.13 during trading on Thursday, reaching $105.42. The stock had a trading volume of 847,105 shares, compared to its average volume of 2,168,562. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $33.64 billion, a price-to-earnings ratio of 21.83, a P/E/G ratio of 2.60 and a beta of 0.46. The stock's 50 day moving average is $107.02 and its two-hundred day moving average is $101.90. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business earned $1.97 EPS. WEC Energy Group's quarterly revenue was up 17.5% compared to the same quarter last year. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. This represents a $3.59 annualized dividend and a yield of 3.41%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's payout ratio is 69.59%.

Wall Street Analyst Weigh In

WEC has been the topic of several recent research reports. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.