SG Americas Securities LLC trimmed its position in WEC Energy Group Inc (NYSE:WEC) by 97.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,754 shares of the utilities provider’s stock after selling 378,847 shares during the quarter. SG Americas Securities LLC’s holdings in WEC Energy Group were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services Inc increased its holdings in shares of WEC Energy Group by 2.0% in the 3rd quarter. Commonwealth Equity Services Inc now owns 107,608 shares of the utilities provider’s stock valued at $6,755,000 after acquiring an additional 2,088 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in WEC Energy Group by 4.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 44,543 shares of the utilities provider’s stock worth $2,796,000 after buying an additional 1,930 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in WEC Energy Group by 6.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,987 shares of the utilities provider’s stock worth $3,075,000 after buying an additional 2,945 shares during the last quarter. Comerica Bank grew its stake in WEC Energy Group by 29.6% during the 3rd quarter. Comerica Bank now owns 102,178 shares of the utilities provider’s stock worth $6,894,000 after buying an additional 23,339 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in WEC Energy Group by 1,014.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 123,971 shares of the utilities provider’s stock worth $7,783,000 after buying an additional 112,843 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.
Shares of WEC Energy Group Inc (NYSE:WEC) traded up $0.24 during mid-day trading on Monday, reaching $68.96. The company’s stock had a trading volume of 1,413,600 shares, compared to its average volume of 1,641,300. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. WEC Energy Group Inc has a one year low of $56.05 and a one year high of $70.09. The firm has a market cap of $21,762.09, a price-to-earnings ratio of 22.68, a PEG ratio of 4.18 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. analysts predict that WEC Energy Group Inc will post 3.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.5525 per share. This represents a $2.21 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. WEC Energy Group’s payout ratio is 68.42%.
A number of research analysts recently commented on the company. Credit Suisse Group assumed coverage on WEC Energy Group in a research note on Thursday. They set a “neutral” rating and a $70.00 price objective for the company. Bank of America upped their price objective on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, October 27th. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. Finally, BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.00.
In other WEC Energy Group news, Chairman Gale E. Klappa sold 52,722 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total transaction of $3,658,906.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott J. Lauber sold 1,240 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
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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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