WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,800 shares of the utilities provider's stock after selling 3,812 shares during the period. State of Tennessee Department of Treasury's holdings in WEC Energy Group were worth $6,658,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WEC. World Investment Advisors LLC grew its stake in shares of WEC Energy Group by 15.6% during the third quarter. World Investment Advisors LLC now owns 21,075 shares of the utilities provider's stock valued at $2,027,000 after buying an additional 2,845 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in WEC Energy Group by 238.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 12,421 shares of the utilities provider's stock valued at $1,195,000 after acquiring an additional 8,751 shares during the last quarter. Tidal Investments LLC increased its stake in WEC Energy Group by 3.9% in the third quarter. Tidal Investments LLC now owns 4,428 shares of the utilities provider's stock worth $426,000 after purchasing an additional 166 shares during the period. Synovus Financial Corp lifted its position in shares of WEC Energy Group by 4.7% during the third quarter. Synovus Financial Corp now owns 2,980 shares of the utilities provider's stock worth $287,000 after purchasing an additional 135 shares during the last quarter. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of WEC Energy Group by 56.6% during the third quarter. Peapack Gladstone Financial Corp now owns 6,523 shares of the utilities provider's stock valued at $627,000 after purchasing an additional 2,358 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WEC shares. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Barclays lifted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. BMO Capital Markets lifted their price objective 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. Finally, StockNews.com upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. 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, WEC Energy Group has an average rating of "Hold" and a consensus target price of $105.38.

WEC Energy Group Stock Up 0.5 %

Shares of WEC stock traded up $0.59 during mid-day trading on Tuesday, hitting $109.13. 1,048,426 shares of the stock traded hands, compared to its average volume of 2,141,467. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The stock has a market cap of $34.82 billion, a P/E ratio of 22.59, 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. The stock's fifty day moving average is $106.49 and its two-hundred day moving average is $100.82.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the company earned $1.10 EPS. The company's revenue was up 3.0% on a year-over-year basis. Equities analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current 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 paid a $0.8975 dividend. This represents a $3.59 annualized dividend and a dividend yield of 3.29%. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's dividend payout ratio (DPR) is presently 73.91%.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 274,955 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company'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 completion of the sale, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.