Park Avenue Securities LLC Has $4.42 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Park Avenue Securities LLC grew its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,014 shares of the utilities provider's stock after purchasing an additional 8,495 shares during the period. Park Avenue Securities LLC's holdings in WEC Energy Group were worth $4,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WEC. Coastline Trust Co purchased a new stake in WEC Energy Group in the 3rd quarter worth about $29,000. William B. Walkup & Associates Inc. acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at about $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of WEC Energy Group in the second quarter worth approximately $38,000. Ashton Thomas Securities LLC acquired a new stake in shares of WEC Energy Group during the third quarter worth approximately $45,000. Finally, Friedenthal Financial acquired a new stake in shares of WEC Energy Group during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC stock traded up $0.79 during trading on Friday, reaching $99.18. The company had a trading volume of 2,024,149 shares, compared to its average volume of 1,781,995. The firm's 50 day simple moving average is $96.62 and its two-hundred day simple moving average is $92.90. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $102.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $31.38 billion, a PE ratio of 24.25, a PEG ratio of 2.36 and a beta of 0.48.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. Sell-side analysts forecast that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group's dividend payout ratio is currently 87.29%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WEC shares. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. KeyCorp lifted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Jefferies Financial Group began coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a "hold" rating and a $102.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on WEC Energy Group from $103.00 to $106.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.40.

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the sale, the chief executive officer now directly owns 45,709 shares of the company's stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 40,269 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the transaction, the director now directly owns 273,248 shares in the company, valued at $27,204,570.88. This trade represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,794 shares of company stock worth $4,866,579. Company insiders own 0.34% 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.