Siemens Fonds Invest GmbH Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

Siemens Fonds Invest GmbH acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 114,576 shares of the utilities provider's stock, valued at approximately $10,775,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MJP Associates Inc. ADV lifted its position in shares of WEC Energy Group by 3.4% during the 4th quarter. MJP Associates Inc. ADV now owns 3,019 shares of the utilities provider's stock valued at $284,000 after buying an additional 98 shares in the last quarter. Marshall Financial Group LLC lifted its position in shares of WEC Energy Group by 4.8% during the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider's stock valued at $207,000 after buying an additional 100 shares in the last quarter. Horizon Investments LLC lifted its position in shares of WEC Energy Group by 1.9% during the 4th quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider's stock valued at $553,000 after buying an additional 109 shares in the last quarter. Wealth Alliance lifted its position in shares of WEC Energy Group by 0.8% during the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider's stock valued at $1,325,000 after buying an additional 110 shares in the last quarter. Finally, Advisor OS LLC lifted its position in shares of WEC Energy Group by 3.5% during the 4th quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider's stock valued at $303,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

WEC Energy Group Trading Up 1.4%

Shares of WEC traded up $1.49 during midday trading on Friday, reaching $107.51. The company had a trading volume of 2,612,257 shares, compared to its average volume of 2,144,765. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The stock has a market cap of $34.31 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46. The firm has a 50 day simple moving average of $106.98 and a 200-day simple moving average of $102.38. 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 (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 return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the company earned $1.97 EPS. The company'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 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th will be given a $0.8975 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.34%. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio is presently 69.59%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WEC. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their target price for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Barclays raised their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. BMO Capital Markets raised their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company raised their price objective on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, WEC Energy Group currently has a consensus rating of "Hold" and a consensus target price of $107.13.

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on 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 transaction, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction that occurred on 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 trade represents a 44.52% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Company 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.