WEC Energy Group Inc. (WEC) Shares Down 1%
WEC Energy Group Inc. (NYSE:WEC)’s share price traded down 1% during mid-day trading on Monday . The stock traded as low as $61.85 and last traded at $61.86, with a volume of 782,909 shares changing hands. The stock had previously closed at $62.46.
Several equities analysts have recently issued reports on the company. Argus reaffirmed a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Deutsche Bank AG reissued a “hold” rating and set a $61.00 price objective on shares of WEC Energy Group in a report on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.25.
The company has a market capitalization of $19.31 billion and a PE ratio of 21.84. The company has a 50-day moving average price of $64.11 and a 200-day moving average price of $60.16.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. WEC Energy Group’s revenue for the quarter was up 61.7% on a year-over-year basis. On average, equities research analysts anticipate that WEC Energy Group Inc. will post $2.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.98 annualized dividend and a dividend yield of 3.24%.
In related news, VP Susan H. Martin sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.05, for a total value of $2,602,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Allen L. Leverett sold 68,210 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $60.35, for a total transaction of $4,116,473.50. Following the completion of the transaction, the chief executive officer now owns 100,456 shares of the company’s stock, valued at $6,062,519.60. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of WEC Energy Group by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 447,288 shares of the company’s stock worth $22,951,000 after buying an additional 8,644 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of WEC Energy Group by 31.2% in the fourth quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock worth $2,548,000 after buying an additional 11,811 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of WEC Energy Group by 165.6% in the fourth quarter. Suntrust Banks Inc. now owns 51,757 shares of the company’s stock worth $2,654,000 after buying an additional 32,269 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of WEC Energy Group by 15.0% in the fourth quarter. Advisors Asset Management Inc. now owns 99,606 shares of the company’s stock worth $5,111,000 after buying an additional 12,976 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of WEC Energy Group by 5.8% in the fourth quarter. US Bancorp DE now owns 271,661 shares of the company’s stock worth $13,938,000 after buying an additional 14,793 shares during the last quarter.
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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