Sawtooth Solutions LLC acquired a new stake in WEC Energy Group Inc (NYSE:WEC) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,111 shares of the utilities provider’s stock, valued at approximately $274,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. St. Johns Investment Management Company LLC lifted its holdings in shares of WEC Energy Group by 100.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock valued at $102,000 after buying an additional 800 shares during the period. Braun Bostich & Associates Inc. lifted its holdings in shares of WEC Energy Group by 1,300.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock valued at $114,000 after buying an additional 1,638 shares during the period. Centaurus Financial Inc. bought a new position in shares of WEC Energy Group during the 2nd quarter valued at $141,000. Bridgeworth LLC bought a new position in shares of WEC Energy Group during the 2nd quarter valued at $156,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of WEC Energy Group during the 2nd quarter valued at $164,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.
NYSE:WEC opened at $67.88 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $22.01 billion, a PE ratio of 21.62, a P/E/G ratio of 4.78 and a beta of 0.02. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $72.09.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.66 billion. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.56%. WEC Energy Group’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 EPS. Sell-side analysts expect that WEC Energy Group Inc will post 3.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th will be paid a $0.5525 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.26%. WEC Energy Group’s dividend payout ratio (DPR) is 70.38%.
Several equities analysts have recently weighed in on the company. Credit Suisse Group increased their price target on WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America cut WEC Energy Group from a “buy” rating to a “neutral” rating in a report on Thursday. They noted that the move was a valuation call. Wolfe Research cut WEC Energy Group from a “market perform” rating to a “sell” rating in a report on Friday, October 26th. ValuEngine raised WEC Energy Group from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Finally, Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $70.27.
In other news, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $66.94, for a total value of $11,298,802.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $66.45, for a total value of $166,125.00. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
Featured Article: Buyback
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group Inc (NYSE:WEC).
Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.