BB&T Securities LLC Trims Holdings in WEC Energy Group Inc (WEC)

BB&T Securities LLC reduced its stake in WEC Energy Group Inc (NYSE:WEC) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 38,017 shares of the utilities provider’s stock after selling 1,160 shares during the quarter. BB&T Securities LLC’s holdings in WEC Energy Group were worth $2,457,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of WEC Energy Group by 0.5% in the 2nd quarter. BlackRock Inc. now owns 27,362,836 shares of the utilities provider’s stock worth $1,769,008,000 after buying an additional 142,216 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of WEC Energy Group by 4.7% in the 1st quarter. Epoch Investment Partners Inc. now owns 4,107,047 shares of the utilities provider’s stock worth $257,512,000 after buying an additional 183,711 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of WEC Energy Group by 0.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,725,707 shares of the utilities provider’s stock worth $240,867,000 after buying an additional 26,262 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of WEC Energy Group by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 2,816,363 shares of the utilities provider’s stock worth $182,053,000 after buying an additional 134,777 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of WEC Energy Group by 1.7% in the 1st quarter. Principal Financial Group Inc. now owns 2,348,999 shares of the utilities provider’s stock worth $147,282,000 after buying an additional 39,316 shares during the last quarter. Hedge funds and other institutional investors own 73.21% of the company’s stock.

In related news, insider Frederick D. Kuester sold 168,790 shares of WEC Energy Group stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $66.94, for a total transaction of $11,298,802.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara L. Bowles sold 2,500 shares of WEC Energy Group stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by insiders.

WEC stock opened at $68.80 on Friday. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $70.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.59 and a quick ratio of 0.44. The stock has a market cap of $21.68 billion and a P/E ratio of 21.91.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts expect that WEC Energy Group Inc will post 3.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Tuesday, August 14th were paid a dividend of $0.5525 per share. The ex-dividend date was Monday, August 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.21%. WEC Energy Group’s dividend payout ratio is presently 70.38%.

A number of research firms have recently weighed in on WEC. ValuEngine upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Barclays began coverage on shares of WEC Energy Group in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 target price on the stock. Citigroup boosted their target price on shares of WEC Energy Group from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, July 10th. Finally, Scotia Howard Weill began coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $68.73.

WEC Energy Group 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.

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

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