Duff & Phelps Investment Management Co. lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,064,000 shares of the utilities provider’s stock after selling 55,055 shares during the period. WEC Energy Group accounts for 1.8% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 5th largest position. Duff & Phelps Investment Management Co.’s holdings in WEC Energy Group were worth $126,688,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Hudock Capital Group LLC raised its stake in shares of WEC Energy Group by 0.4% in the first quarter. Hudock Capital Group LLC now owns 4,305 shares of the utilities provider’s stock worth $261,000 after buying an additional 17 shares during the period. Enterprise Financial Services Corp raised its stake in shares of WEC Energy Group by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 2,822 shares of the utilities provider’s stock worth $171,000 after buying an additional 22 shares during the period. Arvest Bank Trust Division raised its stake in shares of WEC Energy Group by 0.7% in the second quarter. Arvest Bank Trust Division now owns 4,147 shares of the utilities provider’s stock worth $255,000 after buying an additional 27 shares during the period. Buckingham Asset Management LLC raised its stake in shares of WEC Energy Group by 0.9% in the first quarter. Buckingham Asset Management LLC now owns 3,992 shares of the utilities provider’s stock worth $242,000 after buying an additional 35 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of WEC Energy Group by 0.6% in the second quarter. Parkside Financial Bank & Trust now owns 7,483 shares of the utilities provider’s stock worth $459,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 70.72% of the company’s stock.

WEC Energy Group, Inc. (NYSE:WEC) opened at 64.66 on Friday. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $64.94. The stock has a 50 day moving average price of $62.51 and a 200 day moving average price of $60.95. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of 21.20 and a beta of 0.11.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the 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 return on equity of 10.75% and a net margin of 12.72%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, equities analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.22%. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.

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A number of equities research analysts have weighed in on the company. BidaskClub upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Monday, April 17th. Ladenburg Thalmann Financial Services raised their price objective 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. Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $62.86.

In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.

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

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