Retirement Systems of Alabama raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,011 shares of the utilities provider’s stock after buying an additional 463 shares during the period. Retirement Systems of Alabama’s holdings in WEC Energy Group were worth $9,392,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. increased its position in shares of WEC Energy Group by 3,275.9% in the first 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 during the period. Vanguard Group Inc. increased its position in shares of WEC Energy Group by 3.5% in the first 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 during the period. Renaissance Technologies LLC increased its position in shares of WEC Energy Group by 70.1% in the first 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 during the period. Magellan Asset Management Ltd increased its position in shares of WEC Energy Group by 78.7% in the first 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 during the period. Finally, Canada Pension Plan Investment Board increased its position in shares of WEC Energy Group by 216.0% in the first quarter. Canada Pension Plan Investment Board now owns 663,005 shares of the utilities provider’s stock worth $40,198,000 after buying an additional 453,179 shares during the period. 70.72% of the stock is owned by hedge funds and other institutional investors.

Shares of WEC Energy Group, Inc. (NYSE:WEC) opened at 63.84 on Friday. The firm has a 50-day moving average price of $62.52 and a 200-day moving average price of $60.98. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.94. The stock has a market cap of $20.15 billion, a PE ratio of 20.93 and a beta of 0.11.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $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 company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.26%. WEC Energy Group’s payout ratio is 68.42%.

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A number of equities analysts recently issued reports on WEC shares. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Barclays PLC reaffirmed an “equal weight” rating and issued a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Finally, BidaskClub downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.86.

In other news, VP Susan H. Martin sold 15,470 shares of WEC Energy Group stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total value of $966,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by company insiders.

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.

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

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