Vident Investment Advisory LLC purchased a new stake in shares of WEC Energy Group Inc (NYSE:WEC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,496 shares of the utilities provider’s stock, valued at approximately $408,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board raised its position in WEC Energy Group by 43.5% in the second quarter. State of Wisconsin Investment Board now owns 213,467 shares of the utilities provider’s stock worth $13,103,000 after acquiring an additional 64,660 shares during the period. Legal & General Group Plc increased its stake in shares of WEC Energy Group by 1.5% in the second quarter. Legal & General Group Plc now owns 2,481,715 shares of the utilities provider’s stock worth $152,340,000 after purchasing an additional 37,749 shares in the last quarter. KBC Group NV increased its stake in shares of WEC Energy Group by 14.1% in the second quarter. KBC Group NV now owns 33,577 shares of the utilities provider’s stock worth $2,061,000 after purchasing an additional 4,152 shares in the last quarter. Blair William & Co. IL increased its stake in shares of WEC Energy Group by 4.4% in the second quarter. Blair William & Co. IL now owns 42,651 shares of the utilities provider’s stock worth $2,618,000 after purchasing an additional 1,809 shares in the last quarter. Finally, BB&T Securities LLC increased its stake in shares of WEC Energy Group by 21.4% in the second quarter. BB&T Securities LLC now owns 19,251 shares of the utilities provider’s stock worth $1,181,000 after purchasing an additional 3,391 shares in the last quarter. 72.59% of the stock is currently owned by institutional investors.

Several research firms have recently weighed in on WEC. Credit Suisse Group began coverage on shares of WEC Energy Group in a research note on Thursday, December 7th. They issued a “neutral” rating and a $70.00 target price for the company. Bank of America lifted their target price on shares of WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. 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 research note on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. Finally, BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.00.

WEC Energy Group Inc (WEC) opened at $67.47 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. WEC Energy Group Inc has a 12 month low of $56.05 and a 12 month high of $70.09. The company has a market cap of $21,512.79, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 4.05 and a beta of 0.15.

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

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be paid a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.52. WEC Energy Group’s payout ratio is currently 68.42%.

In other news, Chairman Gale E. Klappa sold 52,722 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $3,658,906.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott J. Lauber sold 1,240 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.

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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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