Siemens Fonds Invest GmbH Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

Siemens Fonds Invest GmbH bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 114,576 shares of the utilities provider’s stock, valued at approximately $10,775,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 268 shares during the period. Prudent Man Investment Management Inc. bought a new position in shares of WEC Energy Group during the 4th quarter valued at about $28,000. Hoey Investments Inc. bought a new position in shares of WEC Energy Group in the fourth quarter valued at $42,000. Human Investing LLC purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 345 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 2.6%

Shares of WEC stock opened at $104.91 on Friday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00. The stock has a 50 day simple moving average of $106.90 and a 200 day simple moving average of $101.59. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The stock has a market cap of $33.48 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $1.97 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 14th will be issued a $0.8975 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.42%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is presently 69.59%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WEC shares. Wells Fargo & Company lifted their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. BMO Capital Markets boosted their target price on 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. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and upped 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 objective on shares of WEC Energy Group and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $107.13.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the firm’s 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 completion of the sale, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group 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.