DekaBank Deutsche Girozentrale Has $12.60 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

DekaBank Deutsche Girozentrale lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,479 shares of the utilities provider's stock after selling 4,368 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in WEC Energy Group were worth $12,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WEC. Proficio Capital Partners LLC acquired a new stake in WEC Energy Group during the fourth quarter valued at approximately $70,000. Larson Financial Group LLC raised its stake in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after buying an additional 268 shares in the last quarter. Amundi raised its stake in WEC Energy Group by 2.6% during the fourth quarter. Amundi now owns 271,756 shares of the utilities provider's stock valued at $25,749,000 after buying an additional 6,902 shares in the last quarter. AlphaQuest LLC raised its stake in WEC Energy Group by 98,540.0% during the fourth quarter. AlphaQuest LLC now owns 4,932 shares of the utilities provider's stock valued at $464,000 after buying an additional 4,927 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in WEC Energy Group by 19.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 87,642 shares of the utilities provider's stock valued at $8,242,000 after buying an additional 14,466 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WEC shares. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Wells Fargo & Company increased their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. UBS Group increased their price target on WEC Energy Group from $105.00 to $107.00 and gave the stock a "neutral" rating in a research report on Friday. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Scotiabank set a $115.00 price target on WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, WEC Energy Group has an average rating of "Hold" and a consensus target price of $106.40.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction on 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 directly owned 2,686 shares of the company's stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

WEC Energy Group Trading Down 0.2%

Shares of NYSE WEC traded down $0.19 during mid-day trading on Friday, hitting $105.49. 1,631,851 shares of the company traded hands, compared to its average volume of 2,153,386. WEC Energy Group, Inc. has a 1 year low of $79.47 and a 1 year high of $111.00. The stock has a market capitalization of $33.67 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.90 and a beta of 0.44. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average of $105.58 and a two-hundred day moving average of $103.77.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business posted $1.97 earnings per share. WEC Energy Group's revenue was up 17.5% compared to the same quarter last year. On average, sell-side 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 business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a dividend yield of 3.40%. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group's dividend payout ratio is currently 69.59%.

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.