Sandy Spring Bank cut its position in WEC Energy Group Inc (NYSE:WEC) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,795 shares of the utilities provider’s stock after selling 1,295 shares during the period. Sandy Spring Bank’s holdings in WEC Energy Group were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of WEC. Thrivent Financial For Lutherans grew its stake in WEC Energy Group by 6.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 13,660 shares of the utilities provider’s stock worth $839,000 after purchasing an additional 853 shares in the last quarter. FMR LLC boosted its position in shares of WEC Energy Group by 189.3% in the 2nd quarter. FMR LLC now owns 536,408 shares of the utilities provider’s stock valued at $32,925,000 after purchasing an additional 351,003 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $235,000. Dimensional Fund Advisors LP boosted its position in shares of WEC Energy Group by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 717,360 shares of the utilities provider’s stock valued at $44,032,000 after purchasing an additional 7,741 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of WEC Energy Group by 9.0% in the 2nd quarter. Royal Bank of Canada now owns 293,464 shares of the utilities provider’s stock valued at $18,014,000 after purchasing an additional 24,162 shares during the period. 72.97% of the stock is currently owned by hedge funds and other institutional investors.
WEC has been the subject of a number of analyst reports. Bank of America increased their target price 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 $74.00 target price on the stock in a report on Saturday, January 6th. Credit Suisse Group began coverage on WEC Energy Group in a report on Thursday, December 7th. They set a “neutral” rating and a $70.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and issued a $73.00 target price on shares of WEC Energy Group in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Co cut their target price on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $67.40.
Shares of WEC Energy Group Inc (WEC) traded down $0.53 during trading hours on Wednesday, reaching $60.58. The company had a trading volume of 823,595 shares, compared to its average volume of 1,976,532. The company has a market capitalization of $19,338.41, a PE ratio of 15.95, a price-to-earnings-growth ratio of 4.40 and a beta of 0.05. WEC Energy Group Inc has a 1 year low of $56.63 and a 1 year high of $70.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.43 and a current ratio of 0.57.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. equities analysts predict that WEC Energy Group Inc will post 3.3 earnings per share for the current fiscal year.
The company also recently announced 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 is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 dividend on an annualized basis and a yield of 3.65%. WEC Energy Group’s payout ratio is currently 54.88%.
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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.
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