WEC Energy Group, Inc. (WEC) Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 70.1% during the first quarter, Holdings Channel reports. The firm owned 1,514,902 shares of the utilities provider’s stock after buying an additional 624,400 shares during the period. Renaissance Technologies LLC’s holdings in WEC Energy Group were worth $91,849,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WEC. Hudock Capital Group LLC boosted its position in shares of WEC Energy Group by 0.4% in the first quarter. Hudock Capital Group LLC now owns 4,305 shares of the utilities provider’s stock worth $261,000 after buying an additional 17 shares during the period. Enterprise Financial Services Corp boosted its position in shares of 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 period. Buckingham Asset Management LLC boosted its position in shares of 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 period. Archford Capital Strategies LLC boosted its position in shares of WEC Energy Group by 0.7% in the fourth quarter. Archford Capital Strategies LLC now owns 6,422 shares of the utilities provider’s stock worth $376,000 after buying an additional 42 shares during the period. Finally, Curbstone Financial Management Corp boosted its position 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 during the period. Institutional investors own 70.85% of the company’s stock.

WEC Energy Group, Inc. (NYSE WEC) opened at 62.67 on Wednesday. The stock has a 50 day moving average price of $62.19 and a 200 day moving average price of $59.85. The stock has a market cap of $19.78 billion, a PE ratio of 20.96 and a beta of 0.12. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $66.10.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. WEC Energy Group had a net margin of 12.54% and a return on equity of 10.65%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the firm earned $1.09 earnings per share. WEC Energy Group’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Wednesday, May 10th. WEC Energy Group’s dividend payout ratio is presently 69.80%.

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Several equities analysts have recently issued reports on WEC shares. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, April 3rd. Ladenburg Thalmann Financial Services lifted their price objective on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday. Finally, Deutsche Bank AG lifted their price objective on WEC Energy Group from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $63.75.

In related news, VP Tom Metcalfe sold 7,935 shares of WEC Energy Group stock in a transaction on Monday, May 8th. The shares were sold at an average price of $61.30, for a total transaction of $486,415.50. Following the completion of the transaction, the vice president now owns 13,994 shares of the company’s stock, valued at $857,832.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James A. Schubilske sold 4,260 shares of WEC Energy Group stock in a transaction on Friday, May 5th. The stock was sold at an average price of $61.56, for a total transaction of $262,245.60. Following the transaction, the vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $524,060.28. The disclosure for this sale can be found here. Insiders have sold 128,275 shares of company stock valued at $7,920,155 in the last three months. 0.97% of the stock is owned by 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.

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

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