GPS Wealth Strategies Group LLC Lowers Holdings in WEC Energy Group, Inc. (NYSE:WEC)

GPS Wealth Strategies Group LLC trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,325 shares of the utilities provider’s stock after selling 123 shares during the period. GPS Wealth Strategies Group LLC’s holdings in WEC Energy Group were worth $144,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Marcum Wealth LLC lifted its stake in WEC Energy Group by 1.3% during the first quarter. Marcum Wealth LLC now owns 7,416 shares of the utilities provider’s stock worth $808,000 after purchasing an additional 93 shares in the last quarter. Clean Yield Group lifted its stake in WEC Energy Group by 12.6% during the first quarter. Clean Yield Group now owns 867 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 97 shares in the last quarter. MJP Associates Inc. ADV lifted its stake in WEC Energy Group by 3.4% during the fourth quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 98 shares in the last quarter. Peak Financial Advisors LLC lifted its stake in WEC Energy Group by 1.9% during the first quarter. Peak Financial Advisors LLC now owns 5,339 shares of the utilities provider’s stock worth $582,000 after purchasing an additional 100 shares in the last quarter. Finally, Horizon Investments LLC lifted its stake in WEC Energy Group by 1.9% during the fourth quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock worth $553,000 after purchasing an additional 109 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $104.92 on Friday. The stock’s 50-day moving average is $106.83 and its two-hundred day moving average is $102.82. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of 21.72, 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 company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’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 earnings per share. Analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.42%. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.59%.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president now owns 2,686 shares of the company’s stock, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.