DekaBank Deutsche Girozentrale Boosts Stock Position in WEC Energy Group, Inc. $WEC

DekaBank Deutsche Girozentrale boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,847 shares of the utilities provider's stock after acquiring an additional 4,368 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in WEC Energy Group were worth $12,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WEC. Nuveen LLC bought a new stake in WEC Energy Group during the 1st quarter valued at $403,372,000. Charles Schwab Investment Management Inc. raised its position in WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. raised its position in WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after purchasing an additional 726,267 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock valued at $77,290,000 after purchasing an additional 665,681 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in WEC Energy Group by 20.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider's stock valued at $274,564,000 after purchasing an additional 430,269 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Trading Down 1.3%

WEC opened at $115.93 on Friday. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 3.31 and a beta of 0.47. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.18. The stock has a fifty day moving average price of $111.15 and a 200-day moving average price of $108.26.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion during the quarter. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.8925 dividend. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.1%. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WEC shares. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. BMO Capital Markets lifted their target price on WEC Energy Group from $114.00 to $120.00 and gave the company a "market perform" rating in a research report on Tuesday. UBS Group lifted their target price on WEC Energy Group from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Barclays boosted their price target on WEC Energy Group from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, Cowen began coverage on WEC Energy Group in a research report on Wednesday, October 15th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $118.83.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 5,960 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $110.98, for a total value of $661,440.80. Following the completion of the sale, the director directly owned 274,969 shares in the company, valued at $30,516,059.62. This trade represents a 2.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares of the company's stock, valued at $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 over the last ninety days. Company insiders own 0.50% of the company's stock.

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.

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