DekaBank Deutsche Girozentrale Cuts Stake in WEC Energy Group, Inc. (NYSE:WEC)

DekaBank Deutsche Girozentrale trimmed its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 46.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,847 shares of the utilities provider's stock after selling 105,908 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in WEC Energy Group were worth $11,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Diversified Trust Co boosted its holdings in WEC Energy Group by 2.7% in the 1st quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider's stock valued at $419,000 after purchasing an additional 134 shares during the period. State of Alaska Department of Revenue increased its stake in WEC Energy Group by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 34,210 shares of the utilities provider's stock valued at $2,809,000 after acquiring an additional 145 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in WEC Energy Group by 9.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 26,278 shares of the utilities provider's stock valued at $2,158,000 after acquiring an additional 2,185 shares during the period. Van ECK Associates Corp raised its holdings in WEC Energy Group by 39.3% in the 1st quarter. Van ECK Associates Corp now owns 106,126 shares of the utilities provider's stock valued at $8,715,000 after acquiring an additional 29,928 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $474,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WEC shares. StockNews.com lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Friday, August 9th. KeyCorp increased their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research note on Thursday, September 19th. They set a "hold" rating and a $102.00 price target for the company. Wells Fargo & Company upped their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their target price on 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. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, WEC Energy Group presently has a consensus rating of "Hold" and a consensus price target of $94.45.

Insiders Place Their Bets

In related news, VP Mary Beth Straka sold 3,240 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares of the company's stock, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 750 shares of the business's stock in a transaction 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 sale, the director now owns 21,876 shares of the company's stock, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock worth $1,078,058 over the last three months. Insiders own 0.34% of the company's stock.

WEC Energy Group Stock Down 0.5 %

Shares of WEC Energy Group stock traded down $0.50 during trading on Thursday, reaching $95.53. The stock had a trading volume of 3,470,988 shares, compared to its average volume of 2,148,427. The company has a market capitalization of $30.20 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 2.50 and a beta of 0.44. The stock has a fifty day moving average price of $95.44 and a two-hundred day moving average price of $87.01. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. Sell-side analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 annualized dividend and a yield of 3.50%. WEC Energy Group's dividend payout ratio is currently 72.93%.

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.