Raymond James & Associates increased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 868,682 shares of the utilities provider’s stock after purchasing an additional 87,561 shares during the period. Raymond James & Associates’ holdings in WEC Energy Group were worth $56,161,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WEC. Wells Fargo & Company MN boosted its stake in WEC Energy Group by 0.6% in the 1st quarter. Wells Fargo & Company MN now owns 7,383,689 shares of the utilities provider’s stock valued at $462,959,000 after buying an additional 44,534 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in WEC Energy Group by 12.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 10,655 shares of the utilities provider’s stock valued at $668,000 after buying an additional 1,153 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in WEC Energy Group by 111.6% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 7,819 shares of the utilities provider’s stock valued at $490,000 after buying an additional 4,123 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in WEC Energy Group by 74.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,503 shares of the utilities provider’s stock valued at $596,000 after buying an additional 4,046 shares in the last quarter. Finally, Comerica Bank boosted its stake in WEC Energy Group by 3.6% in the 1st quarter. Comerica Bank now owns 107,062 shares of the utilities provider’s stock valued at $6,695,000 after buying an additional 3,678 shares in the last quarter. Institutional investors and hedge funds own 73.17% of the company’s stock.

WEC Energy Group stock opened at $68.56 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $21.86 billion and a price-to-earnings ratio of 21.83. WEC Energy Group Inc has a 52 week low of $58.48 and a 52 week high of $70.09.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.57 billion. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. research analysts anticipate that WEC Energy Group Inc will post 3.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Tuesday, August 14th were paid a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Monday, August 13th. WEC Energy Group’s dividend payout ratio is currently 70.38%.

WEC has been the topic of several recent analyst reports. Zacks Investment Research lowered WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Bank of America raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 23rd. Goldman Sachs Group raised WEC Energy Group from a “sell” rating to a “neutral” rating in a research note on Thursday, July 19th. ValuEngine lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. Finally, Deutsche Bank boosted their price target on WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. WEC Energy Group presently has a consensus rating of “Hold” and a consensus target price of $68.73.

In other WEC Energy Group news, Director Barbara L. Bowles sold 2,500 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $66.45, for a total value of $166,125.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Frederick D. Kuester sold 168,790 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total value of $11,298,802.60. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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

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