First Trust Advisors LP lowered its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 45.4% in the fourth quarter, Holdings Channel reports. The fund owned 591,064 shares of the utilities provider’s stock after selling 491,820 shares during the quarter. First Trust Advisors LP’s holdings in WEC Energy Group were worth $39,264,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of WEC. Cable Hill Partners LLC increased its stake in shares of WEC Energy Group by 3,307.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 1,687 shares during the last quarter. Hanson & Doremus Investment Management acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $133,000. Calton & Associates Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $175,000. Kempner Capital Management Inc. acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $206,000. Finally, Berkshire Asset Management LLC PA acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $207,000. 72.97% of the stock is owned by institutional investors.
Shares of WEC Energy Group Inc (NYSE:WEC) opened at $61.92 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. WEC Energy Group Inc has a 1 year low of $57.00 and a 1 year high of $70.09. The stock has a market cap of $19,540.40, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 4.44 and a beta of 0.04.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data 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 net margin of 15.75% and a return on equity of 10.81%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the company earned $0.61 earnings per share. WEC Energy Group’s revenue for the quarter was up 4.7% on a year-over-year basis. equities research analysts forecast that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be given a $0.5525 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 annualized dividend and a yield of 3.57%. WEC Energy Group’s dividend payout ratio (DPR) is 58.31%.
WEC has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 target price for the company. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Saturday, January 6th. Bank of America increased their target price on shares of WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. Wells Fargo & Co dropped their target price on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a research report on Thursday, February 1st. Finally, UBS Group initiated coverage on shares of WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $67.40.
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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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