Ossiam Makes New $283,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Ossiam acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,010 shares of the utilities provider’s stock, valued at approximately $283,000.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC lifted its position in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in WEC Energy Group during the fourth quarter worth about $28,000. Hoey Investments Inc. bought a new stake in WEC Energy Group during the fourth quarter worth about $42,000. Human Investing LLC bought a new position in WEC Energy Group in the fourth quarter valued at approximately $52,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of WEC Energy Group by 140.8% during 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 own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on WEC. BMO Capital Markets raised their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company 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 report on Wednesday, April 16th. JPMorgan Chase & Co. raised shares of 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. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $104.38.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $109.19 on Wednesday. The business’s 50 day moving average is $106.06 and its 200-day moving average is $100.38. The firm has a market cap of $34.84 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. 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, February 4th. The utilities provider reported $1.43 earnings per share (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 business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $1.10 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities research 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 will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be 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 of this dividend is Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.29%. WEC Energy Group’s dividend payout ratio is currently 73.91%.

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.