WEC Energy Group, Inc. (NYSE:WEC) Holdings Trimmed by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main reduced its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 88.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,631 shares of the utilities provider's stock after selling 243,542 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in WEC Energy Group were worth $2,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP increased its position in WEC Energy Group by 134.2% in the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the period. Geode Capital Management LLC increased its position in WEC Energy Group by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock worth $756,423,000 after purchasing an additional 110,802 shares during the period. JPMorgan Chase & Co. increased its position in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after purchasing an additional 699,177 shares during the period. Invesco Ltd. increased its position in WEC Energy Group by 7.9% during the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock worth $396,114,000 after purchasing an additional 309,697 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock worth $363,350,000 after acquiring an additional 87,711 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 2.6%

Shares of WEC Energy Group stock traded up $2.67 during trading hours on Thursday, hitting $104.91. 1,992,185 shares of the company's stock traded hands, compared to its average volume of 2,159,748. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The stock has a 50 day simple moving average of $106.98 and a 200-day simple moving average of $101.53. The company has a market cap of $33.48 billion, a PE ratio of 21.72, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter last year, the company posted $1.97 earnings per share. WEC Energy Group's revenue was up 17.5% on a year-over-year basis. Equities research 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 will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Wednesday, May 14th. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's payout ratio is 69.59%.

Analyst Ratings Changes

WEC has been the topic of a number of research reports. BMO Capital Markets upped their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Barclays upped their price target 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. Wells Fargo & Company upped their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $107.13.

Insider Activity

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

WEC Energy Group 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.