Commonwealth Equity Services Inc boosted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,608 shares of the utilities provider’s stock after purchasing an additional 2,088 shares during the quarter. Commonwealth Equity Services Inc’s holdings in WEC Energy Group were worth $6,755,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in WEC Energy Group by 362.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after acquiring an additional 1,719,955 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of WEC Energy Group by 2,687.2% during the second quarter. Janus Henderson Group PLC now owns 1,200,291 shares of the utilities provider’s stock valued at $73,674,000 after buying an additional 1,157,227 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of WEC Energy Group by 2.5% during the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock valued at $2,023,235,000 after buying an additional 795,189 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of WEC Energy Group by 8.6% during the second quarter. Epoch Investment Partners Inc. now owns 6,212,698 shares of the utilities provider’s stock valued at $381,336,000 after buying an additional 492,379 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in WEC Energy Group by 57.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,020,953 shares of the utilities provider’s stock worth $62,666,000 after buying an additional 370,937 shares during the period. Institutional investors and hedge funds own 72.60% of the company’s stock.
Several equities analysts recently weighed in on WEC shares. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. Finally, Bank of America lifted their price target on shares of WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.43.
In related news, VP Scott J. Lauber sold 1,240 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gale E. Klappa sold 52,722 shares of the business’s stock in a transaction that occurred 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. Over the last three months, insiders have sold 68,962 shares of company stock valued at $4,735,707. Corporate insiders own 0.97% of the company’s stock.
WEC Energy Group Inc (NYSE WEC) traded down $0.56 during midday trading on Monday, hitting $68.58. The stock had a trading volume of 1,894,265 shares, compared to its average volume of 1,645,039. The stock has a market cap of $21,818.90, a price-to-earnings ratio of 22.74, a PEG ratio of 4.19 and a beta of 0.15. WEC Energy Group Inc has a fifty-two week low of $54.96 and a fifty-two week high of $70.09. 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 released its earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. WEC Energy Group’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. equities research analysts expect that WEC Energy Group Inc will post 3.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, November 13th. WEC Energy Group’s dividend payout ratio is presently 68.42%.
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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.
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