Schroder Investment Management Group raised its position in shares of WEC Energy Group Inc (NYSE:WEC) by 63.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,945 shares of the utilities provider’s stock after purchasing an additional 31,519 shares during the quarter. Schroder Investment Management Group’s holdings in WEC Energy Group were worth $5,404,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in shares of WEC Energy Group during the 3rd quarter valued at approximately $2,097,000. Crawford Investment Counsel Inc. grew its stake in shares of WEC Energy Group by 41.8% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 209,898 shares of the utilities provider’s stock valued at $14,013,000 after acquiring an additional 61,905 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of WEC Energy Group by 387.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 689,529 shares of the utilities provider’s stock valued at $46,871,000 after acquiring an additional 548,176 shares during the period. CIBC World Markets Inc. grew its stake in shares of WEC Energy Group by 2.8% during the 3rd quarter. CIBC World Markets Inc. now owns 44,358 shares of the utilities provider’s stock valued at $2,961,000 after acquiring an additional 1,222 shares during the period. Finally, Bruderman Asset Management LLC grew its stake in shares of WEC Energy Group by 28.7% during the 3rd quarter. Bruderman Asset Management LLC now owns 96,885 shares of the utilities provider’s stock valued at $6,468,000 after acquiring an additional 21,613 shares during the period. Institutional investors and hedge funds own 72.81% of the company’s stock.
A number of brokerages recently issued reports on WEC. ValuEngine upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Friday, October 19th. Argus boosted their price objective on WEC Energy Group from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday. Credit Suisse Group boosted their price objective on WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Barclays boosted their price objective on WEC Energy Group from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Finally, Citigroup set a $66.00 price objective on WEC Energy Group and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $71.36.
In related news, Chairman Gale E. Klappa sold 146,618 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $71.68, for a total value of $10,509,578.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Gale E. Klappa sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $72.36, for a total value of $3,618,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 319,073 shares of company stock worth $22,864,524. 0.97% of the stock is owned by insiders.
NYSE WEC opened at $73.75 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.34 and a current ratio of 0.51. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $74.16. The company has a market capitalization of $23.12 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 5.02 and a beta of -0.01.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.82%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was down .8% compared to the same quarter last year. As a group, equities analysts forecast that WEC Energy Group Inc will post 3.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be issued a $0.59 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 3.20%. WEC Energy Group’s payout ratio is currently 70.38%.
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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.
Further Reading: Outstanding Shares and The Effect on Share Price
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