Balyasny Asset Management LLC lessened its position in WEC Energy Group, Inc. (NYSE:WEC) by 26.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 439,513 shares of the utilities provider’s stock after selling 156,407 shares during the period. Balyasny Asset Management LLC owned approximately 0.14% of WEC Energy Group worth $26,977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WEC. BlackRock Inc. raised its stake in shares of WEC Energy Group by 3,275.9% in the 1st quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock worth $1,566,618,000 after buying an additional 25,073,593 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of WEC Energy Group by 362.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after buying an additional 1,719,955 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of WEC Energy Group by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock worth $1,950,302,000 after buying an additional 1,085,646 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of WEC Energy Group by 70.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,514,902 shares of the utilities provider’s stock worth $91,849,000 after buying an additional 624,400 shares in the last quarter. Finally, Magellan Asset Management Ltd raised its stake in shares of WEC Energy Group by 78.7% in the 1st quarter. Magellan Asset Management Ltd now owns 1,381,464 shares of the utilities provider’s stock worth $84,000,000 after buying an additional 608,560 shares in the last quarter. 70.24% of the stock is currently owned by institutional investors.

Shares of WEC Energy Group, Inc. (NYSE WEC) traded down 0.60% during trading on Friday, hitting $62.78. The company had a trading volume of 1,837,867 shares. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $67.20. The stock has a market cap of $19.81 billion, a PE ratio of 20.58 and a beta of 0.12. The firm has a 50 day moving average of $64.96 and a 200 day moving average of $62.33.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, August 10th. WEC Energy Group’s dividend payout ratio (DPR) is currently 68.42%.

In other news, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total value of $6,474,210.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Susan H. Martin sold 15,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 192,190 shares of company stock worth $12,435,484. 0.97% of the stock is currently owned by company insiders.

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A number of analysts have recently commented on WEC shares. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. 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 “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Ladenburg Thalmann Financial Services boosted their price objective on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. WEC Energy Group presently has an average rating of “Hold” and an average target price of $62.86.

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.

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

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