Sagespring Wealth Partners LLC Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

Sagespring Wealth Partners LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,029 shares of the utilities provider's stock, valued at approximately $285,000.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after acquiring an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new position in WEC Energy Group in the fourth quarter valued at about $28,000. Hoey Investments Inc. bought a new stake in WEC Energy Group during the fourth quarter worth about $42,000. Human Investing LLC acquired a new stake in WEC Energy Group during the fourth quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. increased its holdings in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after buying an additional 345 shares during the period. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Trading Up 0.8 %

Shares of WEC traded up $0.86 during midday trading on Friday, hitting $108.22. The stock had a trading volume of 1,571,660 shares, compared to its average volume of 2,151,083. The stock's 50 day moving average is $105.86 and its 200 day moving average is $100.21. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The firm has a market cap of $34.53 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.60 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 - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company 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 $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's payout ratio is presently 73.91%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company's stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.