Tortoise Capital Advisors L.L.C. increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 376.5% during the second quarter, Holdings Channel reports. The firm owned 3,402 shares of the utilities provider’s stock after buying an additional 2,688 shares during the period. Tortoise Capital Advisors L.L.C.’s holdings in WEC Energy Group were worth $209,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WEC. BlackRock Inc. increased its position in shares of WEC Energy Group by 3,275.9% in the first quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock valued at $1,566,618,000 after buying an additional 25,073,593 shares during the period. Vanguard Group Inc. increased its position in shares of WEC Energy Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock valued at $1,950,302,000 after buying an additional 1,085,646 shares during the period. Renaissance Technologies LLC increased its position in shares of WEC Energy Group by 70.1% in the first quarter. Renaissance Technologies LLC now owns 1,514,902 shares of the utilities provider’s stock valued at $91,849,000 after buying an additional 624,400 shares during the period. Magellan Asset Management Ltd increased its position in shares of WEC Energy Group by 78.7% in the first quarter. Magellan Asset Management Ltd now owns 1,381,464 shares of the utilities provider’s stock valued at $84,000,000 after buying an additional 608,560 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of WEC Energy Group by 216.0% in the first quarter. Canada Pension Plan Investment Board now owns 663,005 shares of the utilities provider’s stock valued at $40,198,000 after buying an additional 453,179 shares during the period. Hedge funds and other institutional investors own 70.72% of the company’s stock.

Shares of WEC Energy Group, Inc. (NYSE:WEC) opened at 64.73 on Wednesday. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $64.76. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 21.22 and a beta of 0.11. The firm has a 50-day moving average price of $62.45 and a 200 day moving average price of $60.79.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.21%. 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 brokerages recently weighed in on WEC. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Ladenburg Thalmann Financial Services increased their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Two 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’s stock. The stock has an average rating of “Hold” and a consensus target price of $62.86.

In other news, VP Susan H. Martin sold 15,470 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total value of $966,875.00. The transaction was disclosed in a document filed with the SEC, which is accessible through 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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