WEC Energy Group Inc (NYSE:WEC) Stock Position Trimmed by TD Asset Management Inc.

TD Asset Management Inc. cut its position in WEC Energy Group Inc (NYSE:WEC) by 7.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 499,709 shares of the utilities provider’s stock after selling 41,874 shares during the quarter. TD Asset Management Inc.’s holdings in WEC Energy Group were worth $41,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of WEC. 6 Meridian increased its position in shares of WEC Energy Group by 1.8% in the second quarter. 6 Meridian now owns 6,829 shares of the utilities provider’s stock worth $569,000 after purchasing an additional 123 shares during the period. Carroll Financial Associates Inc. lifted its position in WEC Energy Group by 5.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 2,345 shares of the utilities provider’s stock worth $195,000 after buying an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in WEC Energy Group by 1.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 9,026 shares of the utilities provider’s stock worth $714,000 after buying an additional 130 shares in the last quarter. Almanack Investment Partners LLC. lifted its position in WEC Energy Group by 3.0% during the 2nd quarter. Almanack Investment Partners LLC. now owns 4,528 shares of the utilities provider’s stock worth $377,000 after buying an additional 130 shares in the last quarter. Finally, Cox Capital Mgt LLC lifted its position in WEC Energy Group by 2.5% during the 2nd quarter. Cox Capital Mgt LLC now owns 5,693 shares of the utilities provider’s stock worth $475,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 75.05% of the company’s stock.

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

WEC Energy Group stock traded up $1.09 during trading hours on Thursday, reaching $89.98. 19,027 shares of the company’s stock traded hands, compared to its average volume of 1,871,318. 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 fifty-two week low of $64.96 and a fifty-two week high of $90.43. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 4.33 and a beta of 0.11. The business’s 50 day moving average price is $86.29.

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

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $2.36 dividend on an annualized basis and a yield of 2.62%. WEC Energy Group’s payout ratio is presently 70.66%.

In related news, insider Gale E. Klappa sold 73,669 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.43, for a total value of $6,514,549.67. Following the sale, the insider now directly owns 255,858 shares in the company, valued at approximately $22,625,522.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara L. Bowles sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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. Over the last 90 days, insiders have sold 554,210 shares of company stock worth $45,971,457. Corporate insiders own 0.75% of the company’s stock.

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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