Duff & Phelps Investment Management Co. Sells 161,600 Shares of WEC Energy Group Inc (NYSE:WEC)

Duff & Phelps Investment Management Co. cut its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,205,400 shares of the utilities provider’s stock after selling 161,600 shares during the quarter. WEC Energy Group makes up 1.4% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 21st largest position. Duff & Phelps Investment Management Co. owned about 0.38% of WEC Energy Group worth $100,494,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of WEC. 6 Meridian increased its stake in shares of WEC Energy Group by 1.8% during the 2nd 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 last quarter. Carroll Financial Associates Inc. grew its position in shares of 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 purchasing an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 purchasing an additional 130 shares in the last quarter. Almanack Investment Partners LLC. grew its position in shares of 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 purchasing an additional 130 shares in the last quarter. Finally, Cox Capital Mgt LLC grew its position in shares of 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 purchasing an additional 140 shares in the last quarter. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

In other WEC Energy Group news, Director Barbara L. Bowles sold 1,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott J. Lauber sold 3,360 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $82.50, for a total transaction of $277,200.00. The disclosure for this sale can be found here. Insiders sold a total of 545,166 shares of company stock worth $45,236,812 in the last quarter. Company insiders own 0.75% of the company’s stock.

WEC Energy Group stock traded up $0.34 during mid-day trading on Friday, reaching $91.03. 15,643 shares of the company traded hands, compared to its average volume of 1,900,684. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.55 and a quick ratio of 0.41. The firm’s 50 day moving average price is $86.41 and its 200 day moving average price is $80.58. The firm has a market capitalization of $28.29 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 4.31 and a beta of 0.11. WEC Energy Group Inc has a 52-week low of $64.96 and a 52-week high of $90.93.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the firm earned $0.73 EPS. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that WEC Energy Group Inc will post 3.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, August 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.

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

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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