Defined Wealth Management LLC Invests $207,000 in WEC Energy Group, Inc. (NYSE:WEC)

Defined Wealth Management LLC purchased a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,902 shares of the utilities provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of WEC Energy Group by 134.2% during the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock worth $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of WEC Energy Group by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider’s stock valued at $756,423,000 after acquiring an additional 110,802 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of WEC Energy Group by 3.1% in the fourth quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider’s stock valued at $538,112,000 after purchasing an additional 173,006 shares during the period. Invesco Ltd. grew its stake in WEC Energy Group by 7.9% in the fourth quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider’s stock worth $396,114,000 after purchasing an additional 309,697 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in WEC Energy Group by 15.4% during the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider’s stock worth $370,128,000 after purchasing an additional 526,014 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

Shares of WEC opened at $106.32 on Friday. 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 firm has a market cap of $33.93 billion, a PE ratio of 22.01, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The stock has a fifty day moving average price of $106.79 and a 200-day moving average price of $102.80.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the business posted $1.97 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.38%. The ex-dividend date was Wednesday, May 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 69.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WEC shares. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and raised their target price for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Barclays lifted their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, April 29th. Finally, Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $107.13.

Insider Buying and Selling at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

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.