WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Increased by Golden State Wealth Management LLC

Golden State Wealth Management LLC increased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 252.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342 shares of the utilities provider’s stock after purchasing an additional 245 shares during the quarter. Golden State Wealth Management LLC’s holdings in WEC Energy Group were worth $37,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its holdings in shares of 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 during the period. Opal Wealth Advisors LLC acquired a new stake in shares of WEC Energy Group during the first quarter valued at approximately $32,000. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $42,000. Finally, Stephens Consulting LLC raised its holdings in shares of WEC Energy Group by 138.6% during the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 316 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the sale, the vice president directly owned 2,686 shares of the company’s stock, valued at $289,470.22. This represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, Barclays boosted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.33.

WEC Energy Group Price Performance

NYSE WEC opened at $103.74 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $106.09 and a 200 day simple moving average of $103.34. The company has a market cap of $33.11 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.88 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data 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. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. WEC Energy Group’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 EPS. On average, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current 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 issued a $0.8975 dividend. The ex-dividend date was Wednesday, May 14th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.46%. WEC Energy Group’s dividend payout ratio is 69.59%.

WEC Energy Group Company 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.