Energy Income Partners LLC Sells 131,879 Shares of WEC Energy Group Inc (NYSE:WEC)

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Energy Income Partners LLC reduced its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 17.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 613,259 shares of the utilities provider’s stock after selling 131,879 shares during the period. WEC Energy Group accounts for approximately 0.9% of Energy Income Partners LLC’s investment portfolio, making the stock its 29th biggest position. Energy Income Partners LLC owned approximately 0.19% of WEC Energy Group worth $51,128,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Greenleaf Trust raised its position in shares of WEC Energy Group by 9.4% during the first quarter. Greenleaf Trust now owns 7,834 shares of the utilities provider’s stock worth $620,000 after acquiring an additional 675 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in WEC Energy Group by 17.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 62,092 shares of the utilities provider’s stock valued at $4,910,000 after acquiring an additional 9,176 shares during the period. Commerce Bank boosted its position in shares of WEC Energy Group by 2.6% during the first quarter. Commerce Bank now owns 88,344 shares of the utilities provider’s stock worth $6,987,000 after buying an additional 2,206 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of WEC Energy Group by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 397,856 shares of the utilities provider’s stock worth $31,384,000 after buying an additional 7,346 shares during the period. Finally, Barings LLC boosted its position in shares of WEC Energy Group by 53.2% during the first quarter. Barings LLC now owns 8,926 shares of the utilities provider’s stock worth $706,000 after buying an additional 3,100 shares during the period. 76.89% of the stock is owned by institutional investors and hedge funds.

WEC opened at $93.65 on Friday. WEC Energy Group Inc has a 52-week low of $64.96 and a 52-week high of $98.19. The firm has a market capitalization of $29.27 billion, a PE ratio of 28.04, a PEG ratio of 4.27 and a beta of 0.05. 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’s 50-day simple moving average is $91.62 and its 200 day simple moving average is $83.60.

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, topping 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. WEC Energy Group’s revenue was down 4.9% on a year-over-year basis. On average, research analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current year.

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

WEC has been the subject of several recent research reports. Guggenheim cut 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 upped their price objective on WEC Energy Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and upped their price objective 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 initiated coverage on WEC Energy Group in a research report on Tuesday, June 4th. They set a “sector weight” rating for the company. Finally, Zacks Investment Research raised 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. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $82.91.

In related news, VP Mary Beth Straka sold 3,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $97.69, for a total transaction of $341,915.00. Following the sale, the vice president now owns 5,252 shares in the company, valued at $513,067.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Curt S. Culver bought 367 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $85.30 per share, for a total transaction of $31,305.10. The disclosure for this purchase can be found here. Insiders have sold 246,040 shares of company stock worth $22,979,862 in the last quarter. 0.75% of the stock is currently owned by corporate insiders.

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.

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

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