Waters Parkerson & CO. LLC maintained its position in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,098 shares of the utilities provider’s stock at the close of the 2nd quarter. Waters Parkerson & CO. LLC’s holdings in WEC Energy Group were worth $988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. State of Wisconsin Investment Board lifted its stake in shares of WEC Energy Group by 34.2% in the 1st quarter. State of Wisconsin Investment Board now owns 148,807 shares of the utilities provider’s stock valued at $9,022,000 after acquiring an additional 37,883 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of WEC Energy Group by 3.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 37,068 shares of the utilities provider’s stock valued at $2,247,000 after acquiring an additional 1,259 shares during the last quarter. Buckingham Asset Management LLC lifted its stake in shares of WEC Energy Group by 0.9% in the 1st quarter. Buckingham Asset Management LLC now owns 3,992 shares of the utilities provider’s stock valued at $242,000 after acquiring an additional 35 shares during the last quarter. Cowen Prime Services LLC bought a new stake in shares of WEC Energy Group in the 1st quarter valued at about $152,000. Finally, Norinchukin Bank The lifted its stake in shares of WEC Energy Group by 4.5% in the 1st quarter. Norinchukin Bank The now owns 27,044 shares of the utilities provider’s stock valued at $1,640,000 after acquiring an additional 1,162 shares during the last quarter. 70.24% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on WEC shares. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services boosted their target price 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. WEC Energy Group has an average rating of “Hold” and an average price target of $62.86.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.27%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.

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In other WEC Energy Group news, Director Gale E. Klappa sold 100,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott J. Lauber sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. The disclosure for this sale can be found here. Insiders have sold 192,190 shares of company stock valued at $12,435,484 in the last 90 days. Company insiders own 0.97% of the company’s stock.

WEC Energy Group 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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