The Manufacturers Life Insurance Company decreased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,975 shares of the utilities provider’s stock after selling 61,938 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in WEC Energy Group were worth $19,994,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in WEC. Cable Hill Partners LLC raised its holdings in 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 worth $109,000 after purchasing an additional 1,687 shares during the last quarter. Hanson & Doremus Investment Management bought a new position in WEC Energy Group during the 4th quarter worth approximately $133,000. Calton & Associates Inc. bought a new position in WEC Energy Group during the 4th quarter worth approximately $175,000. Kempner Capital Management Inc. bought a new position in WEC Energy Group during the 4th quarter worth approximately $206,000. Finally, Berkshire Asset Management LLC PA bought a new position in WEC Energy Group during the 4th quarter worth approximately $207,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.
Several research firms have issued reports on WEC. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Sunday, January 21st. UBS Group began coverage on shares of WEC Energy Group in a report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target for the company. Wells Fargo & Co lowered their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a report on Thursday, February 1st. Credit Suisse Group restated a “neutral” rating and set a $63.00 price target (down previously from $65.00) on shares of WEC Energy Group in a report on Friday. Finally, Guggenheim restated a “buy” rating and set a $73.00 price target on shares of WEC Energy Group in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $66.00.
Shares of WEC Energy Group Inc (WEC) opened at $61.85 on Friday. The firm has a market cap of $19,520.00, a price-to-earnings ratio of 16.32, a PEG ratio of 4.33 and a beta of 0.05. 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 one year low of $58.04 and a one year high of $70.09.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. WEC Energy Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. analysts expect that WEC Energy Group Inc will post 3.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 14th will be paid a $0.5525 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.57%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. WEC Energy Group’s payout ratio is currently 58.31%.
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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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