Paloma Partners Management Co trimmed its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 56.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,700 shares of the utilities provider’s stock after selling 25,885 shares during the quarter. Paloma Partners Management Co’s holdings in WEC Energy Group were worth $1,274,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. St. Johns Investment Management Company LLC grew its holdings in WEC Energy Group by 100.0% during the 2nd 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. Braun Bostich & Associates Inc. grew its holdings in WEC Energy Group by 1,300.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 1,638 shares during the last quarter. Well Done LLC bought a new stake in WEC Energy Group during the 1st quarter worth approximately $144,000. Financial Gravity Wealth Inc. bought a new stake in WEC Energy Group during the 1st quarter worth approximately $153,000. Finally, Flagship Harbor Advisors LLC bought a new stake in WEC Energy Group during the 2nd quarter worth approximately $164,000. Institutional investors and hedge funds own 73.37% of the company’s stock.

A number of research firms have weighed in on WEC. Wells Fargo & Co boosted their target price on shares of WEC Energy Group from $71.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Bank of America raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Wednesday, May 23rd. Scotia Howard Weill began coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 target price on the stock. Finally, Howard Weil began coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $69.09.

In related news, Director Barbara L. Bowles sold 2,500 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $66.45, for a total transaction of $166,125.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Frederick D. Kuester sold 168,790 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total transaction of $11,298,802.60. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.

NYSE:WEC opened at $68.62 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.59. WEC Energy Group Inc has a 52 week low of $58.48 and a 52 week high of $70.09. The firm has a market capitalization of $21.71 billion and a PE ratio of 21.85.

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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis. equities research analysts forecast that WEC Energy Group Inc will post 3.32 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Tuesday, August 14th were paid a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, August 13th. WEC Energy Group’s dividend payout ratio is currently 70.38%.

About WEC Energy Group

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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