Sagefield Capital LP Acquires 13,363 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Sagefield Capital LP lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,975 shares of the utilities provider's stock after buying an additional 13,363 shares during the period. Sagefield Capital LP's holdings in WEC Energy Group were worth $7,991,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC boosted 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 acquiring an additional 268 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $28,000. Hoey Investments Inc. purchased a new position in WEC Energy Group during the fourth quarter valued at approximately $42,000. Human Investing LLC acquired a new position in WEC Energy Group in the 4th quarter valued at approximately $52,000. Finally, Cullen Frost Bankers Inc. lifted its position in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after buying an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WEC shares. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price 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 company an "outperform" rating in a report on Wednesday, May 7th. Finally, Barclays increased their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, WEC Energy Group has an average rating of "Hold" and an average target price of $107.13.

WEC Energy Group Stock Down 1.1%

Shares of NYSE WEC traded down $1.15 during mid-day trading on Thursday, reaching $105.40. 847,105 shares of the company's stock were exchanged, compared to its average volume of 2,168,583. 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 business has a fifty day simple moving average of $107.02 and a 200 day simple moving average of $101.90. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The firm has a market capitalization of $33.64 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. The business 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 12.39% and a net margin of 17.75%. WEC Energy Group's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.97 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.8975 per share. The ex-dividend date is Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.41%. WEC Energy Group's payout ratio is currently 69.59%.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gale E. Klappa sold 25,000 shares of the firm'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 transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by 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.