TD Asset Management Inc. Reduces Position in WEC Energy Group Inc (WEC)

TD Asset Management Inc. lowered its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 5.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 811,602 shares of the utilities provider’s stock after selling 51,096 shares during the period. TD Asset Management Inc. owned about 0.26% of WEC Energy Group worth $50,952,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Boston Advisors LLC lifted its holdings in WEC Energy Group by 0.3% in the second quarter. Boston Advisors LLC now owns 14,664 shares of the utilities provider’s stock valued at $900,000 after acquiring an additional 50 shares during the last quarter. Hartford Investment Management Co. increased its position in shares of WEC Energy Group by 7.3% during the second quarter. Hartford Investment Management Co. now owns 76,718 shares of the utilities provider’s stock worth $4,709,000 after acquiring an additional 5,191 shares during the period. Shell Asset Management Co. increased its position in shares of WEC Energy Group by 2.8% during the second quarter. Shell Asset Management Co. now owns 37,669 shares of the utilities provider’s stock worth $2,312,000 after acquiring an additional 1,041 shares during the period. Moody Lynn & Lieberson LLC increased its position in shares of WEC Energy Group by 9.5% during the second quarter. Moody Lynn & Lieberson LLC now owns 4,130 shares of the utilities provider’s stock worth $253,000 after acquiring an additional 360 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in WEC Energy Group by 4.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,770 shares of the utilities provider’s stock valued at $538,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Shares of WEC Energy Group Inc (NYSE:WEC) traded down $0.34 on Wednesday, hitting $68.24. 1,811,600 shares of the stock were exchanged, compared to its average volume of 1,645,750. WEC Energy Group Inc has a fifty-two week low of $55.36 and a fifty-two week high of $70.09. The stock has a market cap of $21,642.18, a PE ratio of 22.56, a price-to-earnings-growth ratio of 4.16 and a beta of 0.15. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.38 and a current ratio of 0.60.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 14th were issued a dividend of $0.52 per share. The ex-dividend date was Monday, November 13th. This represents a $2.08 annualized dividend and a dividend yield of 3.05%. WEC Energy Group’s payout ratio is 68.42%.

Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Finally, Bank of America began coverage on shares of WEC Energy Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $65.43.

In other news, VP Susan H. Martin sold 15,000 shares of WEC Energy Group stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott J. Lauber sold 1,240 shares of WEC Energy Group stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $70.00, for a total transaction of $86,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,962 shares of company stock worth $4,735,707 in the last ninety days. 0.97% of the stock is currently owned by insiders.

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WEC Energy Group 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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