Commerzbank Aktiengesellschaft FI decreased its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 62.9% in the first quarter, Holdings Channel.com reports. The firm owned 3,086 shares of the utilities provider’s stock after selling 5,225 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in WEC Energy Group were worth $357,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of WEC Energy Group by 26.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 529,319 shares of the utilities provider’s stock valued at $55,822,000 after acquiring an additional 109,745 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $5,363,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of WEC Energy Group by 24.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,220 shares of the utilities provider’s stock valued at $5,613,000 after purchasing an additional 10,606 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in WEC Energy Group by 195.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 482,309 shares of the utilities provider’s stock valued at $50,864,000 after purchasing an additional 318,846 shares during the period. Finally, Country Trust Bank boosted its holdings in WEC Energy Group by 6.3% in the fourth quarter. Country Trust Bank now owns 255,685 shares of the utilities provider’s stock worth $26,965,000 after purchasing an additional 15,182 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.
WEC Energy Group Price Performance
NYSE:WEC opened at $113.36 on Thursday. The business’s 50-day simple moving average is $113.63 and its two-hundred day simple moving average is $113.41. WEC Energy Group, Inc. has a 52 week low of $102.95 and a 52 week high of $119.91. The stock has a market cap of $36.92 billion, a PE ratio of 22.63, a P/E/G ratio of 1.94 and a beta of 0.47. The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.36.
WEC Energy Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, August 14th. WEC Energy Group’s dividend payout ratio is presently 76.05%.
Insiders Place Their Bets
In other WEC Energy Group news, EVP Daniel Krueger sold 4,665 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $110.96, for a total transaction of $517,628.40. Following the completion of the sale, the executive vice president directly owned 7,346 shares of the company’s stock, valued at $815,112.16. This trade represents a 38.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on WEC shares. Barclays boosted their target price on shares of WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Wells Fargo & Company reiterated an “overweight” rating and set a $127.00 price objective on shares of WEC Energy Group in a research report on Tuesday, April 21st. BMO Capital Markets cut their price target on WEC Energy Group from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Wednesday. Truist Financial upped their price target on shares of WEC Energy Group from $119.00 to $122.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Mizuho set a $124.00 price objective on shares of WEC Energy Group in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, WEC Energy Group presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.
View Our Latest Report on WEC Energy Group
WEC Energy Group Company Profile
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
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