Burling Wealth Partners LLC Acquires Shares of 16,856 WEC Energy Group, Inc. (NYSE:WEC)

Burling Wealth Partners LLC acquired a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,856 shares of the utilities provider's stock, valued at approximately $1,585,000.

Several other hedge funds have also recently bought and sold shares of WEC. Wellington Management Group LLP increased its stake in shares of WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares during the period. Geode Capital Management LLC increased its position in WEC Energy Group by 1.4% in the 4th 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 during the period. JPMorgan Chase & Co. raised its stake in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after acquiring an additional 699,177 shares in the last quarter. Invesco Ltd. raised its stake in WEC Energy Group by 7.9% during the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock valued at $396,114,000 after acquiring an additional 309,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock worth $363,350,000 after acquiring an additional 87,711 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

Shares of NYSE WEC traded down $1.22 during trading on Friday, hitting $107.69. The company had a trading volume of 2,077,779 shares, compared to its average volume of 2,147,767. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. The business's 50-day moving average is $106.38 and its 200 day moving average is $100.68. The company has a market cap of $34.36 billion, a P/E ratio of 22.30, 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.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given 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 3.33%. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is 73.91%.

Insider Activity

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised 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 note on Tuesday, April 8th. BMO Capital Markets raised their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average price target of $104.38.

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.