Russell Investments Group Ltd. lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 27.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 417,934 shares of the utilities provider’s stock after selling 160,215 shares during the period. Russell Investments Group Ltd. owned 0.13% of WEC Energy Group worth $26,218,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of WEC. Oakworth Capital Inc. increased its position in WEC Energy Group by 8.8% in the 2nd quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 132 shares during the period. Cable Hill Partners LLC boosted its holdings in 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 valued at $109,000 after purchasing an additional 1,687 shares in the last quarter. Country Trust Bank boosted its holdings in WEC Energy Group by 5.7% in 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 in the last quarter. Captrust Financial Advisors purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $132,000. Finally, Private Vista LLC purchased a new stake in WEC Energy Group in the 2nd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 71.09% of the company’s stock.
WEC Energy Group, Inc. (WEC) traded up $0.08 during mid-day trading on Friday, reaching $68.27. The company had a trading volume of 804,200 shares, compared to its average volume of 1,641,017. WEC Energy Group, Inc. has a 12-month low of $54.96 and a 12-month high of $70.09. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. The stock has a market cap of $21,544.35, a price-to-earnings ratio of 22.46, a P/E/G ratio of 4.14 and a beta of 0.14.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $0.69 EPS. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. analysts anticipate that WEC Energy Group, Inc. will post 3.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.08 annualized dividend and a yield of 3.05%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
In other WEC Energy Group news, Chairman Gale E. Klappa sold 52,722 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan H. Martin sold 15,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The disclosure for this sale can be found here. Insiders sold a total of 68,962 shares of company stock valued at $4,735,707 over the last quarter. 0.97% of the stock is currently owned by insiders.
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WEC has been the topic of a number of analyst reports. BidaskClub lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Finally, Bank of America Corporation started coverage on WEC Energy Group in a research note on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $65.43.
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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