Chevy Chase Trust Holdings Inc. Increases Stake in WEC Energy Group Inc (WEC)

Chevy Chase Trust Holdings Inc. increased its holdings in WEC Energy Group Inc (NYSE:WEC) by 1.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 278,717 shares of the utilities provider’s stock after purchasing an additional 3,354 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of WEC Energy Group worth $17,498,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. raised its holdings in WEC Energy Group by 5.2% during the 2nd quarter. Wetherby Asset Management Inc. now owns 6,489 shares of the utilities provider’s stock valued at $399,000 after buying an additional 322 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in WEC Energy Group by 3.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,489,419 shares of the utilities provider’s stock valued at $91,421,000 after buying an additional 43,841 shares during the last quarter. National Planning Corp raised its holdings in WEC Energy Group by 2.7% during the 2nd quarter. National Planning Corp now owns 6,019 shares of the utilities provider’s stock valued at $368,000 after buying an additional 159 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in WEC Energy Group during the 2nd quarter valued at $4,054,000. Finally, Teacher Retirement System of Texas bought a new stake in WEC Energy Group during the 2nd quarter valued at $683,000. 72.60% of the stock is owned by institutional investors.

Shares of WEC Energy Group Inc (NYSE WEC) traded up $0.21 during midday trading on Tuesday, reaching $69.17. 3,172,200 shares of the company’s stock traded hands, compared to its average volume of 1,647,733. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. WEC Energy Group Inc has a 1-year low of $56.05 and a 1-year high of $70.09. The company has a market cap of $21,762.09, a price-to-earnings ratio of 22.68, a PEG ratio of 4.18 and a beta of 0.15.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned $0.69 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. research analysts expect that WEC Energy Group Inc will post 3.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be issued a $0.5525 dividend. The ex-dividend date is Tuesday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. This represents a $2.21 annualized dividend and a yield of 3.20%. WEC Energy Group’s dividend payout ratio is 68.42%.

In other WEC Energy Group news, Chairman Gale E. Klappa sold 52,722 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott J. Lauber sold 1,240 shares of the company’s 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 disclosure for this sale can be found here. 0.97% of the stock is currently owned by corporate insiders.

WEC has been the subject of a number of recent analyst reports. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. Bank of America upped their price target 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. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, October 27th. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Credit Suisse Group initiated coverage on shares of WEC Energy Group in a report on Thursday, December 7th. They set a “neutral” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $66.00.

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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.

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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