Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.9% during the second quarter, Holdings Channel reports. The fund owned 59,228 shares of the utilities provider’s stock after selling 6,544 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in WEC Energy Group were worth $3,635,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its position in shares of WEC Energy Group by 13.7% in the first quarter. Nisa Investment Advisors LLC now owns 362,593 shares of the utilities provider’s stock worth $21,984,000 after buying an additional 43,685 shares during the last quarter. Coastline Trust Co raised its position in shares of WEC Energy Group by 47.8% in the first quarter. Coastline Trust Co now owns 9,279 shares of the utilities provider’s stock worth $563,000 after buying an additional 3,000 shares during the last quarter. First Financial Corp IN purchased a new position in shares of WEC Energy Group during the first quarter worth approximately $413,000. Somerset Trust Co raised its position in shares of WEC Energy Group by 1.9% in the first quarter. Somerset Trust Co now owns 10,955 shares of the utilities provider’s stock worth $664,000 after buying an additional 203 shares during the last quarter. Finally, Reilly Financial Advisors LLC raised its position in shares of WEC Energy Group by 9.7% in the first quarter. Reilly Financial Advisors LLC now owns 21,921 shares of the utilities provider’s stock worth $1,329,000 after buying an additional 1,930 shares during the last quarter. Hedge funds and other institutional investors own 70.72% of the company’s stock.

WEC Energy Group, Inc. (NYSE WEC) opened at 63.84 on Friday. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 20.93 and a beta of 0.11. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $64.94. The stock has a 50 day moving average price of $62.52 and a 200 day moving average price of $60.98.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.26%. WEC Energy Group’s dividend payout ratio is 68.42%.

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A number of brokerages have commented on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Ladenburg Thalmann Financial Services raised their price target on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. BidaskClub lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $62.86.

In related news, VP Susan H. Martin sold 15,470 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total value of $966,875.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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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