Alhambra Investment Management LLC Sells 467 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Alhambra Investment Management LLC reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 11.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,618 shares of the utilities provider’s stock after selling 467 shares during the quarter. Alhambra Investment Management LLC’s holdings in WEC Energy Group were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of WEC. Apollon Wealth Management LLC boosted its holdings in WEC Energy Group by 2.0% in the 4th quarter. Apollon Wealth Management LLC now owns 9,066 shares of the utilities provider’s stock valued at $853,000 after purchasing an additional 175 shares during the period. Empowered Funds LLC boosted its holdings in WEC Energy Group by 23.1% in the 4th quarter. Empowered Funds LLC now owns 14,281 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 2,680 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in WEC Energy Group by 1.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 33,721 shares of the utilities provider’s stock valued at $3,171,000 after purchasing an additional 475 shares during the period. Savant Capital LLC boosted its holdings in WEC Energy Group by 3.6% in the 4th quarter. Savant Capital LLC now owns 22,789 shares of the utilities provider’s stock valued at $2,143,000 after purchasing an additional 794 shares during the period. Finally, Summit Trail Advisors LLC boosted its holdings in WEC Energy Group by 46.2% in the 4th quarter. Summit Trail Advisors LLC now owns 4,646 shares of the utilities provider’s stock valued at $437,000 after purchasing an additional 1,469 shares during the period. 77.20% of the stock is owned by institutional investors.

Insider Transactions at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the sale, the vice president now owns 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by corporate insiders.

WEC Energy Group Trading Up 0.6%

WEC opened at $105.53 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $33.68 billion, a PE ratio of 21.85, a PEG ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The firm has a 50-day moving average price of $106.71 and a two-hundred day moving average price of $102.74.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.09. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.97 EPS. As a group, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.40%. WEC Energy Group’s payout ratio is currently 69.59%.

Analysts Set New Price Targets

WEC has been the subject of a number of research reports. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, Barclays raised their price objective on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average target price of $107.13.

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.