Strs Ohio decreased its position in WEC Energy Group, Inc. (NYSE:WEC) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,271 shares of the utilities provider’s stock after selling 4,499 shares during the period. Strs Ohio’s holdings in WEC Energy Group were worth $3,024,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in WEC. Trust Co. of Vermont raised its stake in shares of WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares in the last quarter. Delphi Private Advisors LLC raised its stake in shares of WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after buying an additional 1,276 shares in the last quarter. Financial Architects Inc raised its stake in shares of WEC Energy Group by 7.4% in the second quarter. Financial Architects Inc now owns 2,324 shares of the utilities provider’s stock valued at $142,000 after buying an additional 161 shares in the last quarter. Cowen Prime Services LLC purchased a new stake in shares of WEC Energy Group during the first quarter valued at $152,000. Finally, Ruggie Capital Group purchased a new stake in shares of WEC Energy Group during the first quarter valued at $161,000. 70.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of WEC Energy Group, Inc. (NYSE WEC) traded up 0.83% during trading on Friday, hitting $64.59. The stock had a trading volume of 3,423,708 shares. The stock’s 50-day moving average price is $62.76 and its 200 day moving average price is $61.20. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 21.18 and a beta of 0.11. WEC Energy Group, Inc. has a one year low of $53.66 and a one year high of $64.94.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. WEC Energy Group’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts forecast that WEC Energy Group, Inc. will post $3.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. WEC Energy Group’s payout ratio is presently 68.42%.
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WEC has been the subject of several research analyst reports. Barclays PLC reissued an “equal weight” rating and issued a $68.00 price objective (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. Ladenburg Thalmann Financial Services upped their target price on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, June 9th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and an average price target of $62.86.
In other WEC Energy Group news, VP Tom Metcalfe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following the transaction, the vice president now directly owns 16,059 shares of the company’s stock, valued at $1,034,841.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gale E. Klappa sold 100,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,970 shares of company stock worth $8,085,485. Insiders own 0.97% of the company’s stock.
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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