Principal Financial Group Inc. raised its position in WEC Energy Group, Inc. (NYSE:WEC) by 362.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,195,130 shares of the utilities provider’s stock after buying an additional 1,719,955 shares during the period. Principal Financial Group Inc. owned 0.70% of WEC Energy Group worth $134,737,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WEC. Hudock Capital Group LLC increased its position in WEC Energy Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 4,322 shares of the utilities provider’s stock worth $265,000 after buying an additional 17 shares during the last quarter. Enterprise Financial Services Corp increased its position in WEC Energy Group by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 2,822 shares of the utilities provider’s stock worth $171,000 after buying an additional 22 shares during the last quarter. Arvest Bank Trust Division increased its position in WEC Energy Group by 0.7% in the second quarter. Arvest Bank Trust Division now owns 4,147 shares of the utilities provider’s stock worth $255,000 after buying an additional 27 shares during the last quarter. Buckingham Asset Management LLC increased its position in WEC Energy Group by 0.9% in the first quarter. Buckingham Asset Management LLC now owns 3,992 shares of the utilities provider’s stock worth $242,000 after buying an additional 35 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in WEC Energy Group by 0.6% in the second quarter. Parkside Financial Bank & Trust now owns 7,483 shares of the utilities provider’s stock worth $459,000 after buying an additional 41 shares during the last quarter. 70.76% of the stock is currently owned by institutional investors.

Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 65.22 on Friday. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 21.38 and a beta of 0.11. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $65.46. The firm’s 50 day moving average is $63.72 and its 200 day moving average is $61.67.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.

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Several equities analysts have recently commented on the stock. BidaskClub raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Ladenburg Thalmann Financial Services boosted their price target 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. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.86.

In other WEC Energy Group news, VP Scott J. Lauber sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.00, for a total value of $97,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 10,410 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.03, for a total value of $676,962.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,190 shares of company stock valued at $11,445,484. 0.97% of the stock is owned by company insiders.

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.

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

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