Westwood Holdings Group Inc. trimmed its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 13.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,066,405 shares of the utilities provider’s stock after selling 170,383 shares during the period. WEC Energy Group accounts for 1.0% of Westwood Holdings Group Inc.’s portfolio, making the stock its 23rd largest holding. Westwood Holdings Group Inc. owned approximately 0.34% of WEC Energy Group worth $88,906,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Heartland Consultants Inc. grew its stake in WEC Energy Group by 4.3% during the second quarter. First Heartland Consultants Inc. now owns 12,594 shares of the utilities provider’s stock valued at $1,050,000 after acquiring an additional 522 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in WEC Energy Group by 4.2% during the second quarter. Envestnet Asset Management Inc. now owns 194,017 shares of the utilities provider’s stock valued at $16,175,000 after acquiring an additional 7,864 shares in the last quarter. Bank of New York Mellon Corp grew its stake in WEC Energy Group by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,538,725 shares of the utilities provider’s stock valued at $211,653,000 after acquiring an additional 10,892 shares in the last quarter. M Holdings Securities Inc. grew its stake in 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 valued at $2,135,000 after acquiring an additional 22,999 shares in the last quarter. Finally, GWM Advisors LLC grew its stake in WEC Energy Group by 8.6% during the first quarter. GWM Advisors LLC now owns 184,081 shares of the utilities provider’s stock valued at $569,000 after acquiring an additional 14,597 shares in the last quarter. 76.89% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on WEC shares. KeyCorp began coverage on shares of WEC Energy Group in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Monday. Guggenheim lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. They noted that the move was a valuation call. UBS Group increased their price objective on shares of WEC Energy Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Credit Suisse Group lowered shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $84.00 to $85.00 in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $82.91.

WEC stock traded up $0.28 during trading on Friday, hitting $93.76. 87,654 shares of the company’s stock traded hands, compared to its average volume of 2,073,957. WEC Energy Group Inc has a 52 week low of $64.96 and a 52 week high of $98.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 0.55. The business has a fifty day simple moving average of $91.62 and a 200 day simple moving average of $83.60. The stock has a market capitalization of $29.27 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 4.27 and a beta of 0.05.

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 Thomson Reuters’ consensus estimate of $0.70 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.65 billion. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. WEC Energy Group’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.73 earnings per share. Research analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $2.36 annualized dividend and a dividend yield of 2.52%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.

In other news, VP Mary Beth Straka sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $97.69, for a total value of $341,915.00. Following the completion of the sale, the vice president now owns 5,252 shares in the company, valued at approximately $513,067.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara L. Bowles sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $89.73, for a total transaction of $89,730.00. The disclosure for this sale can be found here. Insiders sold a total of 246,040 shares of company stock valued at $22,979,862 in the last 90 days. Company insiders own 0.75% of the company’s stock.

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.

Further Reading: When can a hold rating present a buying opportunity?

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

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