Principal Financial Group Inc. lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,142,455 shares of the utilities provider’s stock after selling 52,675 shares during the period. Principal Financial Group Inc. owned approximately 0.68% of WEC Energy Group worth $134,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Reilly Herbert Faulkner III increased its holdings in shares of WEC Energy Group by 2.0% during the 3rd quarter. Reilly Herbert Faulkner III now owns 76,483 shares of the utilities provider’s stock worth $4,802,000 after buying an additional 1,506 shares during the last quarter. Smith Moore & CO. increased its holdings in shares of WEC Energy Group by 22.2% during the 3rd quarter. Smith Moore & CO. now owns 6,759 shares of the utilities provider’s stock worth $424,000 after buying an additional 1,229 shares during the last quarter. Becker Capital Management Inc. increased its holdings in shares of WEC Energy Group by 17.8% during the 3rd quarter. Becker Capital Management Inc. now owns 5,181 shares of the utilities provider’s stock worth $325,000 after buying an additional 781 shares during the last quarter. Penobscot Investment Management Company Inc. increased its holdings in shares of WEC Energy Group by 3.4% during the 3rd quarter. Penobscot Investment Management Company Inc. now owns 59,505 shares of the utilities provider’s stock worth $3,736,000 after buying an additional 1,974 shares during the last quarter. Finally, Cambridge Trust Co. increased its holdings in shares of WEC Energy Group by 3.0% during the 3rd quarter. Cambridge Trust Co. now owns 112,190 shares of the utilities provider’s stock worth $7,044,000 after buying an additional 3,243 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

Several analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, October 27th. Bank of America Corporation began coverage on shares of WEC Energy Group in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $67.00 price target for the company. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Finally, BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.86.

In other WEC Energy Group news, VP Scott J. Lauber sold 1,500 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total transaction of $97,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Insiders have sold 192,190 shares of company stock worth $12,435,484 in the last three months. Insiders own 0.97% of the company’s stock.

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WEC Energy Group, Inc. (NYSE WEC) opened at $67.92 on Friday. WEC Energy Group, Inc. has a one year low of $54.24 and a one year high of $68.67. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. The stock has a market cap of $21,531.73, a PE ratio of 22.44, a PEG ratio of 4.29 and a beta of 0.14.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. research analysts predict that WEC Energy Group, Inc. will post 3.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, November 13th. WEC Energy Group’s payout ratio is 68.42%.

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.

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

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