DekaBank Deutsche Girozentrale Increases Position in WEC Energy Group, Inc. (NYSE:WEC)

DekaBank Deutsche Girozentrale grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 93.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 228,755 shares of the utilities provider’s stock after buying an additional 110,276 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of WEC Energy Group worth $17,918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Global X Japan Co. Ltd. raised its holdings in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares during the last quarter. Diversified Trust Co increased its stake in shares of WEC Energy Group by 2.7% during the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 134 shares during the period. MPS Loria Financial Planners LLC increased its stake in shares of WEC Energy Group by 2.1% during the first quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock worth $551,000 after acquiring an additional 135 shares during the period. Keystone Financial Group increased its stake in shares of WEC Energy Group by 4.5% during the fourth quarter. Keystone Financial Group now owns 3,211 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 138 shares during the period. Finally, FinTrust Capital Advisors LLC increased its stake in shares of WEC Energy Group by 52.6% during the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 142 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 0.9 %

Shares of NYSE WEC opened at $95.85 on Monday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.15. The company has a market capitalization of $30.30 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.44 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54. The firm’s 50-day moving average is $88.15 and its two-hundred day moving average is $83.42.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

Analyst Upgrades and Downgrades

WEC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. KeyCorp dropped their price target on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets upped their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company upped their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $90.17.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now owns 1,462 shares of the company’s stock, valued at $129,796.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now directly owns 21,876 shares in the company, valued at approximately $1,934,932.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,702 shares of company stock valued at $1,078,058. Company insiders own 0.34% of the company’s stock.

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.