Stifel Financial Corp increased its holdings in WEC Energy Group Inc (NYSE:WEC) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,629 shares of the utilities provider’s stock after buying an additional 2,495 shares during the period. Stifel Financial Corp owned about 0.08% of WEC Energy Group worth $16,630,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in WEC. Cable Hill Partners LLC boosted its position in shares of 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. Captrust Financial Advisors purchased a new position in WEC Energy Group in the 2nd quarter valued at about $132,000. Private Vista LLC purchased a new position in WEC Energy Group in the 2nd quarter valued at about $136,000. Sun Life Financial INC lifted its holdings in WEC Energy Group by 23,010.0% in the 2nd quarter. Sun Life Financial INC now owns 2,311 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 2,301 shares in the last quarter. Finally, Evercore Wealth Management LLC lifted its holdings in WEC Energy Group by 9.4% in the 2nd quarter. Evercore Wealth Management LLC now owns 2,325 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.
In other news, VP Scott J. Lauber sold 1,240 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $70.00, for a total transaction of $86,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gale E. Klappa sold 52,722 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total transaction of $3,658,906.80. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. 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 company posted $0.69 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. analysts expect that WEC Energy Group Inc will post 3.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Monday, November 13th. WEC Energy Group’s dividend payout ratio is currently 68.42%.
A number of research firms have issued reports on WEC. Bank of America upped their target price on shares of WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. Credit Suisse Group began coverage on shares of WEC Energy Group in a report on Thursday. They issued a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, October 27th. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a report on Friday, October 20th. Finally, BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $66.00.
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About WEC Energy Group
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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