Ipswich Investment Management Co. Inc. cut its position in WEC Energy Group, Inc. (NYSE:WEC) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,895 shares of the utilities provider’s stock after selling 330 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in WEC Energy Group were worth $914,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WEC. Osborn Williams & Donohoe LLC acquired a new stake in shares of WEC Energy Group during the first quarter worth about $206,000. CENTRAL TRUST Co boosted its stake in shares of WEC Energy Group by 4.8% in the first quarter. CENTRAL TRUST Co now owns 14,730 shares of the utilities provider’s stock worth $893,000 after buying an additional 680 shares in the last quarter. Rathbone Brothers plc boosted its stake in shares of WEC Energy Group by 38.5% in the first quarter. Rathbone Brothers plc now owns 450,000 shares of the utilities provider’s stock worth $27,284,000 after buying an additional 125,000 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in shares of WEC Energy Group by 1.6% in the first quarter. Curbstone Financial Management Corp now owns 4,653 shares of the utilities provider’s stock worth $282,000 after buying an additional 75 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its stake in shares of WEC Energy Group by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 275,648 shares of the utilities provider’s stock worth $16,713,000 after buying an additional 8,422 shares in the last quarter. Hedge funds and other institutional investors own 70.78% of the company’s stock.

Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.83% on Friday, hitting $64.59. 3,423,708 shares of the stock were exchanged. WEC Energy Group, Inc. has a one year low of $53.66 and a one year high of $64.94. The firm has a market capitalization of $20.38 billion, a PE ratio of 21.18 and a beta of 0.11. The company has a 50-day moving average price of $62.76 and a 200-day moving average price of $61.20.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s dividend payout ratio is currently 68.42%.

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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Ladenburg Thalmann Financial Services upped their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, June 9th. BidaskClub cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $62.86.

In other WEC Energy Group news, VP Tom Metcalfe sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following the completion of the sale, the vice president now owns 16,059 shares of the company’s stock, valued at approximately $1,034,841.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Insiders sold a total of 125,970 shares of company stock valued at $8,085,485 in the last three months. Insiders own 0.97% of the company’s stock.

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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