Marshall Wace North America L.P. Raises Position in WEC Energy Group, Inc. (WEC)

Marshall Wace North America L.P. boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 493.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,675 shares of the utilities provider’s stock after purchasing an additional 47,955 shares during the quarter. Marshall Wace North America L.P.’s holdings in WEC Energy Group were worth $3,518,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. grew its stake in shares of WEC Energy Group by 20.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 20,953 shares of the utilities provider’s stock worth $1,270,000 after purchasing an additional 3,594 shares during the period. Nationwide Fund Advisors grew its stake in shares of WEC Energy Group by 0.5% during the 1st quarter. Nationwide Fund Advisors now owns 163,373 shares of the utilities provider’s stock worth $9,905,000 after purchasing an additional 827 shares during the period. Strs Ohio grew its stake in shares of WEC Energy Group by 13.8% during the 1st quarter. Strs Ohio now owns 53,770 shares of the utilities provider’s stock worth $3,260,000 after purchasing an additional 6,541 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of WEC Energy Group by 10.6% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,190 shares of the utilities provider’s stock worth $1,587,000 after purchasing an additional 2,511 shares during the period. Finally, North Star Investment Management Corp. grew its stake in WEC Energy Group by 14.0% in the 1st quarter. North Star Investment Management Corp. now owns 5,949 shares of the utilities provider’s stock valued at $361,000 after acquiring an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 70.79% of the company’s stock.

WEC has been the topic of a number of research reports. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. BidaskClub raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Ladenburg Thalmann Financial Services raised their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $62.86.

WEC Energy Group, Inc. (WEC) traded up 0.40% during mid-day trading on Friday, hitting $66.07. 2,484,882 shares of the stock were exchanged. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 21.66 and a beta of 0.12. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $67.20. The company has a 50 day moving average price of $64.81 and a 200 day moving average price of $62.21.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. Analysts expect that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were issued a $0.52 dividend. The ex-dividend date was Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.15%. WEC Energy Group’s dividend payout ratio is presently 68.42%.

In other WEC Energy Group news, Director Gale E. Klappa sold 100,500 shares of WEC Energy Group stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total value of $6,474,210.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Scott J. Lauber sold 1,500 shares of WEC Energy Group stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. The disclosure for this sale can be found here. Insiders sold a total of 192,190 shares of company stock valued at $12,435,484 over the last ninety days. Insiders own 0.97% of the company’s stock.

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WEC Energy Group Company Profile

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.

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

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