Delphi Private Advisors LLC increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 182.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,976 shares of the utilities provider’s stock after buying an additional 1,276 shares during the period. WEC Energy Group makes up about 0.2% of Delphi Private Advisors LLC’s portfolio, making the stock its 19th largest position. Delphi Private Advisors LLC’s holdings in WEC Energy Group were worth $120,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in WEC. Huntington National Bank raised its stake in WEC Energy Group by 5.5% in the second quarter. Huntington National Bank now owns 138,085 shares of the utilities provider’s stock worth $8,476,000 after buying an additional 7,182 shares in the last quarter. Financial Architects Inc increased its position in WEC Energy Group by 7.4% in the second quarter. Financial Architects Inc now owns 2,324 shares of the utilities provider’s stock worth $142,000 after buying an additional 161 shares during the last quarter. APG Asset Management N.V. increased its position in WEC Energy Group by 1.0% in the second quarter. APG Asset Management N.V. now owns 683,446 shares of the utilities provider’s stock worth $41,950,000 after buying an additional 6,800 shares during the last quarter. Murphy Capital Management Inc. increased its position in WEC Energy Group by 8.0% in the second quarter. Murphy Capital Management Inc. now owns 5,716 shares of the utilities provider’s stock worth $350,000 after buying an additional 424 shares during the last quarter. Finally, Forsta AP Fonden increased its position in WEC Energy Group by 9.8% in the second quarter. Forsta AP Fonden now owns 86,530 shares of the utilities provider’s stock worth $5,311,000 after buying an additional 7,700 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors.
WEC Energy Group, Inc. (NYSE:WEC) opened at 63.84 on Friday. The firm has a market capitalization of $20.15 billion, a P/E ratio of 20.93 and a beta of 0.11. WEC Energy Group, Inc. has a 1-year low of $53.66 and a 1-year high of $64.94. The company’s 50-day moving average price is $62.52 and its 200-day moving average price is $60.98.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.26%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
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A number of research analysts have weighed in on WEC shares. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Barclays PLC reissued an “equal weight” rating and set a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Finally, BidaskClub cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $62.86.
In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total value of $966,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is currently owned by company insiders.
WEC Energy Group Company 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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