Belpointe Asset Management LLC Has $3.45 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Belpointe Asset Management LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,028 shares of the utilities provider's stock after buying an additional 5,603 shares during the quarter. Belpointe Asset Management LLC's holdings in WEC Energy Group were worth $3,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its holdings in WEC Energy Group by 3,828.6% in the fourth 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 last quarter. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group during the 4th quarter worth $28,000. Hoey Investments Inc. bought a new stake in WEC Energy Group in the fourth quarter valued at $42,000. Human Investing LLC acquired a new position in shares of WEC Energy Group during the fourth quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. grew its position 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 worth $55,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Stock Up 0.8 %

Shares of NYSE:WEC traded up $0.86 during midday trading on Friday, hitting $108.22. 1,571,660 shares of the stock were exchanged, compared to its average volume of 2,150,901. The company has a market capitalization of $34.53 billion, a PE ratio of 22.41, a P/E/G ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business's fifty day simple moving average is $105.86 and its two-hundred day simple moving average is $100.18.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the business earned $1.10 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a yield of 3.32%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is presently 73.91%.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction that occurred on 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 trade represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the director now directly owns 21,951 shares of the company's stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on WEC. BMO Capital Markets increased their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Wells Fargo & Company upped their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, Barclays raised WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.