Great West Life Assurance Co. Can decreased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 290,619 shares of the utilities provider’s stock after selling 4,885 shares during the period. Great West Life Assurance Co. Can’s holdings in WEC Energy Group were worth $17,812,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares during the period. Delphi Private Advisors LLC increased its position in WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after buying an additional 1,276 shares during the period. Country Trust Bank increased its position in WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock valued at $127,000 after buying an additional 112 shares during the period. Financial Architects Inc increased its position in WEC Energy Group by 7.4% in the second quarter. Financial Architects Inc now owns 2,324 shares of the utilities provider’s stock valued at $142,000 after buying an additional 161 shares during the period. Finally, Cowen Prime Services LLC bought a new position in WEC Energy Group during the first quarter valued at $152,000. Hedge funds and other institutional investors own 70.83% of the company’s stock.

Shares of WEC Energy Group, Inc. (NYSE:WEC) opened at 64.09 on Monday. The company’s 50-day moving average is $62.43 and its 200 day moving average is $60.72. The stock has a market cap of $20.23 billion, a PE ratio of 21.01 and a beta of 0.11. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.65.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. Analysts forecast that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is currently 68.42%.

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Several research analysts recently weighed in on the stock. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. Ladenburg Thalmann Financial Services upped their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Finally, Deutsche Bank AG upped their price target on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. WEC Energy Group has an average rating of “Hold” and an average price target of $62.86.

In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of WEC Energy Group stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.97% of the company’s stock.

WEC Energy Group Company Profile

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

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