Universal Beteiligungs und Servicegesellschaft mbH Sells 3,114 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Universal Beteiligungs und Servicegesellschaft mbH lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,194 shares of the utilities provider's stock after selling 3,114 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in WEC Energy Group were worth $13,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WEC. Proficio Capital Partners LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $70,000. Teacher Retirement System of Texas boosted its position in shares of WEC Energy Group by 39.9% in the fourth quarter. Teacher Retirement System of Texas now owns 2,959 shares of the utilities provider's stock worth $278,000 after buying an additional 844 shares during the period. LPL Financial LLC boosted its position in shares of WEC Energy Group by 7.1% in the fourth quarter. LPL Financial LLC now owns 702,290 shares of the utilities provider's stock worth $66,043,000 after buying an additional 46,775 shares during the period. Congress Wealth Management LLC DE acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $938,000. Finally, Modern Wealth Management LLC boosted its position in WEC Energy Group by 70.6% during the fourth quarter. Modern Wealth Management LLC now owns 6,488 shares of the utilities provider's stock valued at $657,000 after purchasing an additional 2,684 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm's 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 sale, the vice president directly owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on WEC. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Scotiabank set a $115.00 target price on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Barclays raised their target price 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. Finally, JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $106.40.

WEC Energy Group Stock Performance

NYSE:WEC traded down $0.01 during mid-day trading on Friday, hitting $109.53. The stock had a trading volume of 1,320,699 shares, compared to its average volume of 1,678,526. WEC Energy Group, Inc. has a twelve month low of $83.13 and a twelve month high of $111.00. The stock has a market cap of $34.95 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 3.01 and a beta of 0.44. The company's 50 day simple moving average is $105.75 and its 200 day simple moving average is $104.79. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50.

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, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. WEC Energy Group's revenue was up 17.5% on a year-over-year basis. During the same period last year, the business posted $1.97 EPS. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be given a dividend of $0.8925 per share. The ex-dividend date is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.26%. WEC Energy Group's dividend payout ratio (DPR) is presently 69.59%.

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.