DSG Capital Advisors LLC Invests $266,000 in WEC Energy Group, Inc. (NYSE:WEC)

DSG Capital Advisors LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, Holdings Channel reports. The fund acquired 2,827 shares of the utilities provider’s stock, valued at approximately $266,000.

Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in WEC Energy Group by 134.2% during the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after buying an additional 6,329,574 shares during the period. Geode Capital Management LLC raised its holdings in WEC Energy Group by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider’s stock valued at $756,423,000 after buying an additional 110,802 shares during the period. Deutsche Bank AG raised its holdings in WEC Energy Group by 3.1% during the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider’s stock valued at $538,112,000 after buying an additional 173,006 shares during the period. JPMorgan Chase & Co. raised its holdings in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Finally, Invesco Ltd. raised its holdings in WEC Energy Group by 7.9% during the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider’s stock valued at $396,114,000 after buying an additional 309,697 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president now owns 2,686 shares of the company’s stock, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

WEC Energy Group Stock Performance

WEC stock opened at $105.30 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The business’s fifty day simple moving average is $106.91 and its two-hundred day simple moving average is $102.26. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The firm has a market cap of $33.60 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm posted $1.97 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share 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 given 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 dividend on an annualized basis and a dividend yield of 3.41%. WEC Energy Group’s dividend payout ratio is presently 69.59%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WEC shares. Barclays increased their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, April 29th. BMO Capital Markets increased their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Wells Fargo & Company increased their price target on WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $107.13.

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.