Livforsakringsbolaget Skandia Omsesidigt cut its stake in WEC Energy Group Inc (NYSE:WEC) by 42.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,765 shares of the utilities provider’s stock after selling 2,000 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in WEC Energy Group were worth $185,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of WEC. Principal Financial Group Inc. raised its holdings in WEC Energy Group by 1.7% in the first quarter. Principal Financial Group Inc. now owns 2,348,999 shares of the utilities provider’s stock valued at $147,282,000 after acquiring an additional 39,316 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of WEC Energy Group by 47.3% during the second quarter. IFM Investors Pty Ltd now owns 14,060 shares of the utilities provider’s stock worth $909,000 after purchasing an additional 4,512 shares during the period. Kempner Capital Management Inc. acquired a new stake in shares of WEC Energy Group during the second quarter worth $200,000. State of Alaska Department of Revenue raised its holdings in shares of WEC Energy Group by 10.7% during the second quarter. State of Alaska Department of Revenue now owns 140,887 shares of the utilities provider’s stock worth $9,106,000 after purchasing an additional 13,570 shares during the period. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of WEC Energy Group by 5.6% during the second quarter. Xact Kapitalforvaltning AB now owns 34,422 shares of the utilities provider’s stock worth $2,225,000 after purchasing an additional 1,831 shares during the period. 73.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on WEC shares. Wells Fargo & Co increased their target price on shares of WEC Energy Group from $71.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Deutsche Bank increased their target price on shares of WEC Energy Group from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Credit Suisse Group increased their target price on shares of WEC Energy Group from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup set a $66.00 target price on shares of WEC Energy Group and gave the stock a “neutral” rating in a report on Wednesday, October 3rd. Finally, Barclays started coverage on shares of WEC Energy Group in a report on Tuesday, July 10th. They set an “equal weight” rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $70.27.
WEC Energy Group stock opened at $67.00 on Friday. The stock has a market cap of $22.01 billion, a PE ratio of 21.34, a PEG ratio of 4.78 and a beta of 0.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.59 and a quick ratio of 0.44. 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 released its quarterly earnings results 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 business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.66 billion. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. Equities research analysts predict that WEC Energy Group Inc will post 3.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 14th will be given a dividend of $0.5525 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.30%. WEC Energy Group’s dividend payout ratio is currently 70.38%.
In other news, Director Barbara L. Bowles sold 2,500 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $66.45, for a total transaction of $166,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederick D. Kuester sold 168,790 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $66.94, for a total transaction of $11,298,802.60. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.
WEC Energy Group Company 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.
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