WEC Energy Group Inc (WEC) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in WEC Energy Group Inc (NYSE:WEC) by 8.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,237 shares of the utilities provider’s stock after selling 13,892 shares during the period. Advisors Asset Management Inc.’s holdings in WEC Energy Group were worth $9,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Schroder Investment Management Group grew its position in WEC Energy Group by 11.8% during the 2nd quarter. Schroder Investment Management Group now owns 49,426 shares of the utilities provider’s stock worth $3,186,000 after purchasing an additional 5,227 shares during the period. MAI Capital Management grew its position in WEC Energy Group by 41.6% during the 2nd quarter. MAI Capital Management now owns 5,266 shares of the utilities provider’s stock worth $340,000 after purchasing an additional 1,547 shares during the period. South Street Advisors LLC grew its position in WEC Energy Group by 0.4% during the 2nd quarter. South Street Advisors LLC now owns 180,490 shares of the utilities provider’s stock worth $11,668,000 after purchasing an additional 750 shares during the period. Tiedemann Advisors LLC grew its position in WEC Energy Group by 36.3% during the 2nd quarter. Tiedemann Advisors LLC now owns 30,590 shares of the utilities provider’s stock worth $1,977,000 after purchasing an additional 8,150 shares during the period. Finally, California Public Employees Retirement System grew its position in WEC Energy Group by 21.2% during the 2nd quarter. California Public Employees Retirement System now owns 915,030 shares of the utilities provider’s stock worth $59,157,000 after purchasing an additional 160,024 shares during the period. Institutional investors own 73.36% of the company’s stock.

In other news, insider Frederick D. Kuester sold 168,790 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $66.94, for a total transaction of $11,298,802.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara L. Bowles sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The disclosure for this sale can be found here. 0.94% of the stock is owned by company insiders.

NYSE:WEC opened at $69.27 on Friday. WEC Energy Group Inc has a 52 week low of $58.48 and a 52 week high of $70.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59. The stock has a market cap of $21.07 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 4.87 and a beta of 0.02.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, July 31st. The utilities provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.06. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, analysts expect that WEC Energy Group Inc will post 3.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th will be given a dividend of $0.5525 per share. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.19%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.38%.

Several equities research analysts have weighed in on WEC shares. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Wednesday. Barclays started coverage on WEC Energy Group in a research report on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 price target on the stock. Citigroup increased their price target on WEC Energy Group from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Tuesday, July 10th. Deutsche Bank increased their price target on WEC Energy Group from $67.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Finally, Goldman Sachs Group raised WEC Energy Group from a “sell” rating to a “neutral” rating in a research report on Thursday, July 19th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and an average target price of $70.00.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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