Rhumbline Advisers lifted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 631,971 shares of the utilities provider’s stock after acquiring an additional 6,264 shares during the period. Rhumbline Advisers’ holdings in WEC Energy Group were worth $41,982,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in WEC. KBC Group NV increased its position in shares of WEC Energy Group by 11.0% during the 3rd quarter. KBC Group NV now owns 37,264 shares of the utilities provider’s stock worth $2,339,000 after purchasing an additional 3,687 shares in the last quarter. AMP Capital Investors Ltd increased its position in WEC Energy Group by 3.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 160,388 shares of the utilities provider’s stock valued at $10,069,000 after acquiring an additional 4,970 shares in the last quarter. State of Wisconsin Investment Board increased its position in WEC Energy Group by 8.1% in the 3rd quarter. State of Wisconsin Investment Board now owns 230,663 shares of the utilities provider’s stock valued at $14,481,000 after acquiring an additional 17,196 shares in the last quarter. Macquarie Group Ltd. increased its position in WEC Energy Group by 1.2% in the 3rd quarter. Macquarie Group Ltd. now owns 229,433 shares of the utilities provider’s stock valued at $14,403,000 after acquiring an additional 2,750 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in WEC Energy Group in the 4th quarter valued at about $7,504,000. 72.92% of the stock is owned by institutional investors.
WEC Energy Group Inc (WEC) opened at $61.92 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.57 and a debt-to-equity ratio of 0.92. WEC Energy Group Inc has a one year low of $57.00 and a one year high of $70.09. The firm has a market cap of $19,540.00, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 4.44 and a beta of 0.05.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be paid a $0.5525 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $2.21 dividend on an annualized basis and a yield of 3.57%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. WEC Energy Group’s payout ratio is presently 58.31%.
WEC has been the subject of several analyst reports. Bank of America initiated coverage on shares of WEC Energy Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price target for the company. 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 research report on Friday, October 27th. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 price target for the company. Guggenheim reiterated a “buy” rating and set a $73.00 price target on shares of WEC Energy Group in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Co lowered 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 research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. WEC Energy Group has an average rating of “Hold” and a consensus target price of $67.40.
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WEC Energy Group 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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