WEC Energy Group Inc (WEC) Holdings Lifted by Comerica Bank

Comerica Bank grew its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,384 shares of the utilities provider’s stock after acquiring an additional 1,206 shares during the period. Comerica Bank’s holdings in WEC Energy Group were worth $6,538,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cable Hill Partners LLC grew its holdings in WEC Energy Group by 3,307.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,687 shares in the last quarter. Hanson & Doremus Investment Management acquired a new position in WEC Energy Group during the 4th quarter worth $133,000. Kempner Capital Management Inc. acquired a new position in WEC Energy Group during the 4th quarter worth $206,000. Berkshire Asset Management LLC PA acquired a new position in WEC Energy Group during the 4th quarter worth $207,000. Finally, Wayne Hummer Investments L.L.C. acquired a new position in WEC Energy Group during the 3rd quarter worth $209,000. 73.13% of the stock is owned by institutional investors.

WEC Energy Group Inc (NYSE WEC) opened at $61.10 on Friday. WEC Energy Group Inc has a fifty-two week low of $56.63 and a fifty-two week high of $70.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. The company has a market cap of $18,776.69, a PE ratio of 16.12, a PEG ratio of 4.27 and a beta of 0.05.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. WEC Energy Group’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. analysts anticipate that WEC Energy Group Inc will post 3.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.5525 per share. This represents a $2.21 dividend on an annualized basis and a yield of 3.62%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, February 13th. WEC Energy Group’s payout ratio is presently 54.88%.

Several research firms have recently commented on WEC. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Sunday, January 21st. UBS Group began coverage on shares of WEC Energy Group in a report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 price target for the company. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a report on Friday, October 20th. Wells Fargo & Co decreased their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a report on Thursday, February 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $73.00 price target on shares of WEC Energy Group in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $67.40.

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

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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.

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

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