Guggenheim Capital LLC Reduces Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Guggenheim Capital LLC decreased its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 12.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 92,325 shares of the utilities provider's stock after selling 13,468 shares during the period. Guggenheim Capital LLC's holdings in WEC Energy Group were worth $8,682,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Larson Financial Group LLC lifted its stake in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group during the fourth quarter worth $28,000. Hoey Investments Inc. bought a new position in shares of WEC Energy Group during the fourth quarter worth approximately $42,000. Human Investing LLC acquired a new position in WEC Energy Group in the fourth quarter valued at about $52,000. Finally, Cullen Frost Bankers Inc. raised its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 345 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Wall Street Analyst Weigh In

WEC has been the topic of a number of recent research reports. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. BMO Capital Markets raised their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Finally, StockNews.com upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $104.38.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. 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 firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now 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. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Stock Performance

WEC stock traded up $1.51 during midday trading on Tuesday, hitting $108.47. The company's stock had a trading volume of 182,036 shares, compared to its average volume of 2,139,716. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00. The stock has a market cap of $34.61 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.60 and a beta of 0.44. The stock's 50-day moving average price is $105.95 and its 200 day moving average price is $100.32. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter last year, the business posted $1.10 EPS. The business's quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.8975 per share. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.31%. WEC Energy Group's dividend payout ratio is presently 73.91%.

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.