Meeder Asset Management Inc. acquired a new position in shares of WEC Energy Group Inc (NYSE:WEC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,749 shares of the utilities provider’s stock, valued at approximately $646,000.

Other hedge funds have also bought and sold shares of the company. M Holdings Securities Inc. boosted its holdings in shares of WEC Energy Group by 574.7% during the first quarter. M Holdings Securities Inc. now owns 27,001 shares of the utilities provider’s stock worth $2,135,000 after purchasing an additional 22,999 shares during the last quarter. GWM Advisors LLC boosted its holdings in shares of WEC Energy Group by 8.6% during the first quarter. GWM Advisors LLC now owns 184,081 shares of the utilities provider’s stock worth $569,000 after purchasing an additional 14,597 shares during the last quarter. Alphasimplex Group LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth $399,000. California Public Employees Retirement System boosted its holdings in shares of WEC Energy Group by 17.9% during the first quarter. California Public Employees Retirement System now owns 1,974,669 shares of the utilities provider’s stock worth $156,157,000 after purchasing an additional 300,440 shares during the last quarter. Finally, O Shares Investment Advisers LLC boosted its holdings in shares of WEC Energy Group by 3.0% during the first quarter. O Shares Investment Advisers LLC now owns 13,974 shares of the utilities provider’s stock worth $1,105,000 after purchasing an additional 408 shares during the last quarter. Institutional investors and hedge funds own 76.29% of the company’s stock.

In other news, VP William J. Guc sold 7,005 shares of WEC Energy Group stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.09, for a total transaction of $617,070.45. Following the sale, the vice president now directly owns 13,366 shares of the company’s stock, valued at $1,177,410.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gale E. Klappa sold 71,400 shares of WEC Energy Group stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $82.35, for a total value of $5,879,790.00. The disclosure for this sale can be found here. Insiders sold 295,394 shares of company stock worth $24,888,191 over the last three months. 0.75% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on the company. Bank of America lowered WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $82.00 to $85.00 in a research report on Monday, June 24th. Credit Suisse Group lowered WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $84.00 to $85.00 in a research report on Tuesday, August 6th. They noted that the move was a valuation call. KeyCorp assumed coverage on WEC Energy Group in a research report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Finally, Scotiabank lowered WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $78.00 in a research report on Wednesday, May 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $76.75.

NYSE:WEC opened at $92.63 on Thursday. The business’s 50-day moving average is $87.37 and its two-hundred day moving average is $80.98. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.55 and a quick ratio of 0.41. WEC Energy Group Inc has a 12 month low of $64.96 and a 12 month high of $92.78. The firm has a market capitalization of $28.82 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 4.40 and a beta of 0.11.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s revenue was down 4.9% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group Inc will post 3.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.55%. The ex-dividend date is Tuesday, August 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.

WEC Energy Group Company 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.

Further Reading: Street Name

Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group Inc (NYSE:WEC).

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

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.