WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in WEC Energy Group by 4.5%, now owning approximately 5.47 million shares valued at $595.63 million as of the first quarter.
• WEC Energy Group reported a quarterly earnings per share of $0.76, exceeding estimates of $0.71, with revenues reaching $2.01 billion during the same period.
• The company recently announced a quarterly dividend of $0.8925 per share, with a yield of 3.3%, reflecting a payout ratio of 68.39%.

Deutsche Bank AG trimmed its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,465,533 shares of the utilities provider's stock after selling 256,625 shares during the quarter. Deutsche Bank AG owned 1.71% of WEC Energy Group worth $595,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in WEC Energy Group by 34.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after buying an additional 1,349,522 shares during the period. Invesco Ltd. increased its position in shares of WEC Energy Group by 7.9% in the fourth quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock worth $396,114,000 after acquiring an additional 309,697 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of WEC Energy Group by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock valued at $370,128,000 after acquiring an additional 526,014 shares during the period. Northern Trust Corp raised its stake in shares of WEC Energy Group by 3.8% in the 4th quarter. Northern Trust Corp now owns 3,815,407 shares of the utilities provider's stock valued at $358,801,000 after acquiring an additional 141,393 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 430,269 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. Barclays upped their target price on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Wells Fargo & Company boosted 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. Finally, Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $106.40.

Insider Activity

In related news, EVP Daniel Krueger sold 5,930 shares of the company's 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 sale, the executive vice president directly owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president owned 5,829 shares in the company, valued at $643,113.57. This trade represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,752 shares of company stock valued at $6,610,023 over the last three months. Company insiders own 0.50% of the company's stock.

WEC Energy Group Stock Down 0.2%

WEC stock opened at $109.79 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a 50 day simple moving average of $106.18 and a 200-day simple moving average of $105.55. The company has a market capitalization of $35.34 billion, a P/E ratio of 21.03, a PEG ratio of 3.02 and a beta of 0.42. WEC Energy Group, Inc. has a twelve month low of $86.76 and a twelve month high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. On average, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid 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 3.3%. WEC Energy Group's dividend payout ratio is presently 68.39%.

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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