Macquarie Group Ltd. trimmed its holdings in WEC Energy Group Inc (NYSE:WEC) by 1.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 199,283 shares of the utilities provider’s stock after selling 3,050 shares during the quarter. Macquarie Group Ltd.’s holdings in WEC Energy Group were worth $12,883,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of WEC Energy Group by 5.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,016 shares of the utilities provider’s stock valued at $2,822,000 after buying an additional 2,294 shares in the last quarter. Well Done LLC bought a new position in shares of WEC Energy Group in the first quarter valued at $144,000. Securian Asset Management Inc lifted its stake in shares of WEC Energy Group by 12.2% in the second quarter. Securian Asset Management Inc now owns 56,293 shares of the utilities provider’s stock valued at $3,639,000 after buying an additional 6,105 shares in the last quarter. Federated Investors Inc. PA lifted its stake in shares of WEC Energy Group by 3,162.3% in the first quarter. Federated Investors Inc. PA now owns 203,305 shares of the utilities provider’s stock valued at $12,747,000 after buying an additional 197,073 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its stake in shares of WEC Energy Group by 11.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 16,265 shares of the utilities provider’s stock valued at $1,052,000 after buying an additional 1,670 shares in the last quarter. 73.37% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Frederick D. Kuester sold 168,790 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $66.94, for a total transaction of $11,298,802.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara L. Bowles sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Shares of WEC stock opened at $67.24 on Friday. The stock has a market capitalization of $21.13 billion and a PE ratio of 21.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.59 and a quick ratio of 0.44. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $70.09.

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

The company also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Tuesday, August 14th were issued a $0.5525 dividend. The ex-dividend date was Monday, August 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.29%. WEC Energy Group’s dividend payout ratio is currently 70.38%.

A number of research analysts have weighed in on the stock. Barclays initiated coverage on shares of WEC Energy Group in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 price objective on the stock. Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Friday, June 1st. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Goldman Sachs Group upgraded shares of WEC Energy Group from a “sell” rating to a “neutral” rating in a report on Thursday, July 19th. Finally, Citigroup increased their target price on shares of WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, July 10th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $69.09.

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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