Federated Investors Inc. PA reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 33.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,288 shares of the utilities provider’s stock after selling 3,699 shares during the quarter. Federated Investors Inc. PA’s holdings in WEC Energy Group were worth $447,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Oakworth Capital Inc. raised its stake in WEC Energy Group by 8.8% during the 2nd 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. Delphi Private Advisors LLC raised its stake in WEC Energy Group by 182.3% during the 2nd quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 1,276 shares during the last quarter. Country Trust Bank raised its stake in WEC Energy Group by 5.7% during the 2nd quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 112 shares during the last quarter. Financial Architects Inc raised its stake in WEC Energy Group by 7.4% during the 2nd quarter. Financial Architects Inc now owns 2,324 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 161 shares during the last quarter. Finally, Cowen Prime Services LLC acquired a new position in WEC Energy Group during the 1st quarter valued at $152,000. Hedge funds and other institutional investors own 70.24% of the company’s stock.
WEC Energy Group, Inc. (WEC) opened at 64.50 on Thursday. The firm has a market cap of $20.35 billion, a PE ratio of 21.15 and a beta of 0.12. The stock has a 50 day moving average of $64.96 and a 200-day moving average of $62.33. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $67.20.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. WEC Energy Group’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. Analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.22%. WEC Energy Group’s payout ratio is presently 68.42%.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services upped their target price on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $62.86.
In other news, VP Tom Metcalfe sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following the completion of the sale, the vice president now owns 16,059 shares of the company’s stock, valued at $1,034,841.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gale E. Klappa sold 100,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. In the last three months, insiders sold 192,190 shares of company stock valued at $12,435,484. 0.97% of the stock is currently owned by company insiders.
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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