26,567 Shares in WEC Energy Group Inc (NYSE:WEC) Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new position in shares of WEC Energy Group Inc (NYSE:WEC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,567 shares of the utilities provider’s stock, valued at approximately $2,329,000.

A number of other hedge funds have also bought and sold shares of the business. GWM Advisors LLC increased its stake in WEC Energy Group by 5.8% during the second quarter. GWM Advisors LLC now owns 233,963 shares of the utilities provider’s stock worth $20,507,000 after acquiring an additional 12,823 shares during the last quarter. First Quadrant L P CA increased its stake in WEC Energy Group by 109.8% during the second quarter. First Quadrant L P CA now owns 14,927 shares of the utilities provider’s stock worth $1,308,000 after acquiring an additional 7,811 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in WEC Energy Group by 22.1% during the second quarter. Stratos Wealth Partners LTD. now owns 50,829 shares of the utilities provider’s stock worth $4,455,000 after acquiring an additional 9,205 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in WEC Energy Group by 17.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,968 shares of the utilities provider’s stock worth $6,746,000 after acquiring an additional 11,423 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in WEC Energy Group by 2.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 59,497 shares of the utilities provider’s stock worth $5,215,000 after acquiring an additional 1,405 shares during the last quarter. 74.24% of the stock is owned by institutional investors.

WEC has been the subject of a number of research reports. UBS Group dropped their price objective on WEC Energy Group from $93.00 to $91.00 and set a “neutral” rating for the company in a research note on Monday, June 22nd. Cfra dropped their price objective on WEC Energy Group from $87.00 to $77.00 and set a “strong sell” rating for the company in a research note on Tuesday, May 5th. CSFB dropped their price objective on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating for the company in a research note on Thursday, April 30th. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 price objective for the company in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. dropped their price objective on WEC Energy Group from $95.00 to $87.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $87.50.

In related news, Director Ulice Payne, Jr. sold 1,200 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $87.31, for a total value of $104,772.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Charles R. Matthews sold 14,481 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $95.05, for a total value of $1,376,419.05. Following the completion of the transaction, the chief executive officer now owns 16,223 shares in the company, valued at approximately $1,541,996.15. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Shares of NYSE WEC opened at $95.26 on Friday. The company has a market capitalization of $30.05 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 4.25 and a beta of 0.17. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.65 and a quick ratio of 0.51. The business has a 50-day moving average of $89.91 and a two-hundred day moving average of $92.92. WEC Energy Group Inc has a 1 year low of $68.01 and a 1 year high of $109.53.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.11. WEC Energy Group had a return on equity of 11.40% and a net margin of 16.09%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business earned $1.33 EPS. WEC Energy Group’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities research analysts expect that WEC Energy Group Inc will post 3.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.6325 dividend. This represents a $2.53 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, August 13th. WEC Energy Group’s payout ratio is currently 70.67%.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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

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