BB&T Securities LLC increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,251 shares of the utilities provider’s stock after buying an additional 3,391 shares during the period. BB&T Securities LLC’s holdings in WEC Energy Group were worth $1,181,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of WEC Energy Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock valued at $1,950,302,000 after buying an additional 1,085,646 shares in the last quarter. BlackRock Inc. raised its position in shares of WEC Energy Group by 3,275.9% in the first quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock valued at $1,566,618,000 after buying an additional 25,073,593 shares in the last quarter. State Street Corp raised its position in shares of WEC Energy Group by 1.2% in the first quarter. State Street Corp now owns 16,286,113 shares of the utilities provider’s stock valued at $987,428,000 after buying an additional 200,586 shares in the last quarter. Bank of America Corp DE raised its position in shares of WEC Energy Group by 6.2% in the first quarter. Bank of America Corp DE now owns 5,169,348 shares of the utilities provider’s stock valued at $313,418,000 after buying an additional 304,020 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of WEC Energy Group by 1.8% in the first quarter. Clearbridge Investments LLC now owns 4,970,352 shares of the utilities provider’s stock valued at $301,352,000 after buying an additional 89,046 shares in the last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.

Shares of WEC Energy Group, Inc. (WEC) opened at 65.10 on Monday. The company has a market capitalization of $20.54 billion, a P/E ratio of 21.34 and a beta of 0.11. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $65.46. The firm has a 50-day moving average of $63.25 and a 200-day moving average of $61.46.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. WEC Energy Group’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. On average, equities analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.20%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.

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Several equities analysts have recently weighed in on WEC shares. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services boosted their target price on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.86.

In related news, VP Tom Metcalfe sold 10,000 shares of WEC Energy Group stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gale E. Klappa sold 32,148 shares of WEC Energy Group stock in a transaction on Friday, August 18th. The shares were sold at an average price of $64.77, for a total transaction of $2,082,225.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,190 shares of company stock worth $11,445,484. 0.97% of the stock is owned by corporate insiders.

About WEC Energy Group

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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