Mandatum Life Insurance Co Ltd grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 66.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,161 shares of the utilities provider’s stock after purchasing an additional 4,466 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in WEC Energy Group were worth $701,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of WEC. Oakworth Capital Inc. grew its holdings in shares of WEC Energy Group by 8.8% during the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 132 shares during the last quarter. Cable Hill Partners LLC grew its holdings in WEC Energy Group by 3,307.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock worth $109,000 after buying an additional 1,687 shares in the last quarter. Country Trust Bank grew its holdings in WEC Energy Group by 5.7% in the 2nd quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after buying an additional 112 shares in the last quarter. Captrust Financial Advisors bought a new position in WEC Energy Group in the 2nd quarter worth approximately $132,000. Finally, Private Vista LLC bought a new position in WEC Energy Group in the 2nd quarter worth approximately $136,000. 71.09% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on WEC. BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Bank of America Corporation increased their price objective on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a report on Friday, October 20th. Finally, Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $65.43.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. research analysts predict that WEC Energy Group, Inc. will post 3.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.05%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
In other news, VP Scott J. Lauber sold 1,240 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gale E. Klappa sold 52,722 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. Insiders have sold a total of 68,962 shares of company stock valued at $4,735,707 in the last quarter. 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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