Ladenburg Thalmann Financial Services Inc. lessened its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,456 shares of the utilities provider’s stock after selling 8,052 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in WEC Energy Group were worth $3,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hudock Capital Group LLC boosted its position in WEC Energy Group by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 4,322 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 17 shares in the last quarter. MAI Capital Management boosted its position in WEC Energy Group by 1.1% during the 2nd quarter. MAI Capital Management now owns 4,210 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 45 shares in the last quarter. Eaton Vance Management boosted its position in WEC Energy Group by 0.5% during the 2nd quarter. Eaton Vance Management now owns 12,090 shares of the utilities provider’s stock valued at $742,000 after acquiring an additional 65 shares in the last quarter. Conning Inc. boosted its position in WEC Energy Group by 0.4% during the 2nd quarter. Conning Inc. now owns 18,498 shares of the utilities provider’s stock valued at $1,135,000 after acquiring an additional 74 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its position in WEC Energy Group by 2.1% during the 2nd quarter. Capital Advisors Inc. OK now owns 3,705 shares of the utilities provider’s stock valued at $227,000 after acquiring an additional 77 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on WEC. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Credit Suisse Group began coverage on WEC Energy Group in a research report on Thursday, December 7th. They issued a “neutral” rating and a $70.00 price objective for the company. Bank of America began coverage on WEC Energy Group in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $66.00.

WEC Energy Group Inc (NYSE WEC) traded up $0.25 during trading on Thursday, hitting $67.91. The stock had a trading volume of 1,408,300 shares, compared to its average volume of 1,649,640. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.38. The firm has a market cap of $21,351.85, a PE ratio of 22.26, a price-to-earnings-growth ratio of 4.02 and a beta of 0.15. WEC Energy Group Inc has a 52-week low of $56.05 and a 52-week high of $70.09.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 EPS. equities research analysts forecast that WEC Energy Group Inc will post 3.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be paid a $0.5525 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $2.21 dividend on an annualized basis and a yield of 3.25%. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.

In related news, VP Scott J. Lauber sold 1,240 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gale E. Klappa sold 52,722 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

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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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