TD Asset Management Inc. Sells 22,604 Shares of WEC Energy Group Inc (WEC)

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TD Asset Management Inc. trimmed its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541,583 shares of the utilities provider’s stock after selling 22,604 shares during the quarter. TD Asset Management Inc.’s holdings in WEC Energy Group were worth $42,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc grew its position in shares of WEC Energy Group by 1.5% in the 3rd quarter. Vanguard Group Inc now owns 34,749,404 shares of the utilities provider’s stock worth $2,319,871,000 after buying an additional 499,213 shares during the last quarter. BlackRock Inc. grew its position in shares of WEC Energy Group by 5.7% in the 4th quarter. BlackRock Inc. now owns 29,050,912 shares of the utilities provider’s stock worth $2,012,066,000 after buying an additional 1,563,355 shares during the last quarter. Bank of America Corp DE grew its position in shares of WEC Energy Group by 2.5% in the 4th quarter. Bank of America Corp DE now owns 6,266,922 shares of the utilities provider’s stock worth $434,047,000 after buying an additional 154,574 shares during the last quarter. Northern Trust Corp grew its position in shares of WEC Energy Group by 4.8% in the 4th quarter. Northern Trust Corp now owns 5,241,454 shares of the utilities provider’s stock worth $363,024,000 after buying an additional 241,153 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of WEC Energy Group by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 4,266,754 shares of the utilities provider’s stock worth $295,016,000 after buying an additional 356,209 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.

A number of equities research analysts have recently weighed in on WEC shares. Argus lifted their price objective on WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Credit Suisse Group lifted their price objective on WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Wells Fargo & Co lifted their price objective on WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Finally, Scotiabank lowered WEC Energy Group from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $76.00 to $78.00 in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and an average price target of $74.33.

In other WEC Energy Group news, insider Gale E. Klappa sold 61,350 shares of WEC Energy Group stock in a transaction on Monday, May 20th. The stock was sold at an average price of $81.30, for a total value of $4,987,755.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barbara L. Bowles sold 2,000 shares of WEC Energy Group stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $78.35, for a total value of $156,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 277,290 shares of company stock valued at $21,727,623. Corporate insiders own 0.75% of the company’s stock.

NYSE:WEC traded up $0.34 during trading hours on Thursday, reaching $82.10. 379,835 shares of the company traded hands, compared to its average volume of 1,685,005. The stock has a market capitalization of $25.51 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a 1 year low of $58.48 and a 1 year high of $81.91. The company has a current ratio of 0.67, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, April 25th. The utilities provider reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.41 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. As a group, equities research analysts predict that WEC Energy Group Inc will post 3.52 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 14th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s payout ratio is 70.66%.

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WEC Energy Group Company Profile

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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