apricus wealth LLC Raises Holdings in WEC Energy Group, Inc. (NYSE:WEC)

apricus wealth LLC lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,150 shares of the utilities provider’s stock after buying an additional 2,145 shares during the quarter. WEC Energy Group accounts for 1.6% of apricus wealth LLC’s portfolio, making the stock its 27th biggest holding. apricus wealth LLC’s holdings in WEC Energy Group were worth $2,741,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Thompson Investment Management Inc. boosted its position in shares of WEC Energy Group by 1.4% during the 1st quarter. Thompson Investment Management Inc. now owns 70,510 shares of the utilities provider’s stock worth $7,684,000 after purchasing an additional 944 shares in the last quarter. Donaldson Capital Management LLC increased its holdings in shares of WEC Energy Group by 10.9% in the 1st quarter. Donaldson Capital Management LLC now owns 429,443 shares of the utilities provider’s stock valued at $46,801,000 after purchasing an additional 42,150 shares in the last quarter. CX Institutional acquired a new stake in shares of WEC Energy Group in the first quarter valued at about $193,000. Integrated Advisors Network LLC boosted its holdings in WEC Energy Group by 2.7% during the first quarter. Integrated Advisors Network LLC now owns 7,135 shares of the utilities provider’s stock worth $778,000 after buying an additional 188 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in WEC Energy Group by 2.3% during the first quarter. SG Americas Securities LLC now owns 67,445 shares of the utilities provider’s stock worth $7,350,000 after buying an additional 1,532 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Down 0.1%

Shares of WEC stock opened at $105.49 on Thursday. The firm has a 50-day moving average price of $106.73 and a 200 day moving average price of $102.76. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The company has a market capitalization of $33.66 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 2.60 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its earnings results 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. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company posted $1.97 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.8975 per share. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio is currently 69.59%.

Insider Activity

In other news, VP Joshua M. Erickson sold 2,155 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 2,686 shares of the company’s stock, valued at $289,470.22. This represents a 44.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

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