MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.91 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,840 shares of the utilities provider's stock after acquiring an additional 11,809 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in WEC Energy Group were worth $5,911,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Annex Advisory Services LLC lifted its stake in WEC Energy Group by 6.5% during the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider's stock worth $10,405,000 after purchasing an additional 6,785 shares during the last quarter. Walkner Condon Financial Advisors LLC bought a new position in WEC Energy Group during the fourth quarter worth $271,000. Merit Financial Group LLC lifted its stake in WEC Energy Group by 46.4% during the fourth quarter. Merit Financial Group LLC now owns 15,991 shares of the utilities provider's stock worth $1,504,000 after purchasing an additional 5,069 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in WEC Energy Group during the fourth quarter worth $257,000. Finally, SG Americas Securities LLC lifted its stake in WEC Energy Group by 46.5% during the fourth quarter. SG Americas Securities LLC now owns 65,913 shares of the utilities provider's stock worth $6,198,000 after purchasing an additional 20,918 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 2,686 shares of the company's stock, valued at approximately $289,470.22. This represents a 44.52% 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, Director Ulice Payne, Jr. sold 1,150 shares of the 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 directly owns 21,951 shares of the company's stock, valued at $2,286,635.67. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,305 shares of company stock valued at $3,067,540. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets raised their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $107.13.

WEC Energy Group Stock Up 1.3%

Shares of NYSE:WEC traded up $1.33 during mid-day trading on Friday, reaching $106.82. 1,838,006 shares of the stock were exchanged, compared to its average volume of 2,146,517. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a market cap of $34.09 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.60 and a beta of 0.46. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The stock's 50 day simple moving average is $106.96 and its 200-day simple moving average is $102.05.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data 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. 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 return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group's quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $1.97 earnings per share. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a yield of 3.36%. WEC Energy Group's dividend payout ratio is 69.59%.

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.