US Bancorp DE reduced its stake in WEC Energy Group Inc (NYSE:WEC) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,983 shares of the utilities provider’s stock after selling 15,954 shares during the period. US Bancorp DE owned approximately 0.08% of WEC Energy Group worth $17,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bray Capital Advisors bought a new position in WEC Energy Group in the first quarter worth about $100,000. St. Johns Investment Management Company LLC lifted its holdings in WEC Energy Group by 100.0% in the second quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 800 shares during the last quarter. Well Done LLC bought a new position in WEC Energy Group in the first quarter worth about $144,000. Financial Gravity Wealth Inc. bought a new position in WEC Energy Group in the first quarter worth about $153,000. Finally, Signaturefd LLC bought a new position in WEC Energy Group in the first quarter worth about $166,000. Hedge funds and other institutional investors own 73.92% of the company’s stock.

A number of equities analysts have issued reports on WEC shares. ValuEngine cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Deutsche Bank raised their price target on shares of WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Credit Suisse Group raised their price target on shares of WEC Energy Group from $65.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd. Finally, Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $68.00.

In related news, insider Frederick D. Kuester sold 168,790 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which is available at this link. Also, Director Barbara L. Bowles sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were 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. 0.97% of the stock is owned by company insiders.

NYSE WEC opened at $67.80 on Friday. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $70.09. 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 company has a market cap of $21.21 billion, a P/E ratio of 20.07, a P/E/G ratio of 4.90 and a beta of 0.05.

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, beating the Zacks’ consensus estimate of $0.67 by $0.06. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. sell-side analysts predict that WEC Energy Group Inc will post 3.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 14th will be paid a dividend of $0.5525 per share. The ex-dividend date is Monday, August 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.26%. WEC Energy Group’s dividend payout ratio is presently 70.38%.

WEC Energy Group Profile

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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