Stonehaven Wealth & Tax Solutions LLC Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

Stonehaven Wealth & Tax Solutions LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,448 shares of the utilities provider's stock, valued at approximately $324,000.

A number of other large investors have also recently made changes to their positions in the stock. Annex Advisory Services LLC grew its position in WEC Energy Group by 6.5% during the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider's stock worth $10,405,000 after purchasing an additional 6,785 shares during the last quarter. Matrix Trust Co acquired a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $1,538,000. Gateway Investment Advisers LLC boosted its stake in shares of WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider's stock worth $42,689,000 after acquiring an additional 78,580 shares in the last quarter. PFW Advisors LLC acquired a new stake in WEC Energy Group in the fourth quarter valued at approximately $1,073,000. Finally, Walkner Condon Financial Advisors LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $271,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WEC shares. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets upped their price target 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. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $104.38.

Insider Activity at WEC Energy Group

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

WEC Energy Group Trading Down 1.1 %

Shares of NYSE WEC traded down $1.22 during midday trading on Monday, reaching $107.17. 229,294 shares of the stock were exchanged, compared to its average volume of 2,143,548. The stock has a market capitalization of $34.20 billion, a P/E ratio of 22.19, a PEG ratio of 2.60 and a beta of 0.44. 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 company has a 50 day simple moving average of $105.86 and a 200 day simple moving average of $100.24. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's payout ratio is presently 73.91%.

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.