Norinchukin Bank The grew its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,268 shares of the utilities provider’s stock after purchasing an additional 1,743 shares during the quarter. Norinchukin Bank The’s holdings in WEC Energy Group were worth $1,878,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of WEC. Cable Hill Partners LLC grew its holdings in shares of WEC Energy Group by 3,307.8% during the third 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 during the last quarter. Advisory Services Network LLC boosted its position in shares of WEC Energy Group by 157.2% during the fourth quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,033 shares during the period. Hanson & Doremus Investment Management acquired a new position in shares of WEC Energy Group during the fourth quarter worth approximately $133,000. Calton & Associates Inc. acquired a new position in shares of WEC Energy Group during the fourth quarter worth approximately $175,000. Finally, Crewe Advisors LLC acquired a new position in shares of WEC Energy Group during the fourth quarter worth approximately $193,000. 72.92% of the stock is owned by institutional investors.
WEC has been the subject of several analyst reports. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Saturday, January 6th. Guggenheim reiterated a “buy” rating and set a $73.00 price objective on shares of WEC Energy Group in a research report on Wednesday, January 3rd. Wells Fargo & Co reduced their price objective on 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. UBS Group initiated coverage on WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Credit Suisse Group initiated coverage on WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $67.40.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.94 billion. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. equities analysts predict that WEC Energy Group Inc will post 3.3 EPS 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 given a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 3.66%. This is an increase 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 dividend payout ratio is 58.31%.
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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