Gabelli Funds LLC Decreases Position in WEC Energy Group, Inc. (NYSE:WEC)

Gabelli Funds LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,470 shares of the utilities provider's stock after selling 4,500 shares during the period. Gabelli Funds LLC owned approximately 0.20% of WEC Energy Group worth $59,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Annex Advisory Services LLC boosted its holdings in shares of WEC Energy Group by 6.5% in 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 period. Matrix Trust Co bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $1,538,000. Gateway Investment Advisers LLC boosted its position in 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 valued at $42,689,000 after acquiring an additional 78,580 shares in the last quarter. PFW Advisors LLC purchased a new position in shares of WEC Energy Group in the 4th quarter valued at $1,073,000. Finally, Walkner Condon Financial Advisors LLC bought a new position in shares of WEC Energy Group in the 4th quarter worth $271,000. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WEC has been the topic of a number of analyst reports. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. BMO Capital Markets boosted 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 report on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. Six 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, the stock has an average rating of "Hold" and a consensus price target of $104.38.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction dated 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 owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. 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 firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 0.8 %

Shares of WEC stock traded up $0.86 during trading on Friday, reaching $108.22. The company's stock had a trading volume of 1,571,660 shares, compared to its average volume of 2,150,901. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The stock's 50-day moving average price is $105.86 and its 200 day moving average price is $100.18. The company has a market capitalization of $34.53 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.60 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly 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 business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. On average, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.32%. WEC Energy Group's dividend payout ratio is currently 73.91%.

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.