California Public Employees Retirement System reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 793,019 shares of the utilities provider’s stock after selling 59,700 shares during the period. California Public Employees Retirement System’s holdings in WEC Energy Group were worth $48,081,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WEC. Commerzbank Aktiengesellschaft FI purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $376,000. Van ECK Associates Corp raised its position in shares of WEC Energy Group by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 2,329 shares of the utilities provider’s stock worth $137,000 after buying an additional 461 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of WEC Energy Group by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,092 shares of the utilities provider’s stock worth $1,061,000 after buying an additional 67 shares during the last quarter. Martingale Asset Management L P raised its position in shares of WEC Energy Group by 43.5% in the fourth quarter. Martingale Asset Management L P now owns 22,428 shares of the utilities provider’s stock worth $1,316,000 after buying an additional 6,799 shares during the last quarter. Finally, Brown Advisory Inc. raised its position in shares of WEC Energy Group by 5.1% in the fourth quarter. Brown Advisory Inc. now owns 43,624 shares of the utilities provider’s stock worth $2,558,000 after buying an additional 2,106 shares during the last quarter. 70.85% of the stock is owned by hedge funds and other institutional investors.

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

Shares of WEC Energy Group, Inc. (WEC) traded up 0.20% during midday trading on Tuesday, hitting $63.96. The stock had a trading volume of 108,332 shares. The firm’s 50 day moving average price is $62.08 and its 200 day moving average price is $59.79. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $66.10. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 21.39 and a beta of 0.12.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. WEC Energy Group had a return on equity of 10.65% and a net margin of 12.54%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Wednesday, May 10th. WEC Energy Group’s dividend payout ratio is presently 69.80%.

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A number of equities analysts recently commented on the company. Ladenburg Thalmann Financial Services increased their price target on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, March 23rd. Wolfe Research reissued a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Deutsche Bank AG increased their price target on WEC Energy Group from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Finally, Barclays PLC reissued an “equal weight” rating and set a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a research note on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $64.57.

In other WEC Energy Group news, VP Tom Metcalfe sold 7,935 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $61.30, for a total transaction of $486,415.50. Following the transaction, the vice president now directly owns 13,994 shares in the company, valued at $857,832.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Susan H. Martin sold 15,470 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total value of $966,875.00. The disclosure for this sale can be found here. Insiders sold 134,925 shares of company stock worth $8,329,130 over the last quarter. 0.97% of the stock is currently owned by insiders.

About WEC Energy Group

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

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