Dalton Greiner Hartman Maher & Co. Decreases Position in WEC Energy Group Inc. (WEC)
Dalton Greiner Hartman Maher & Co. reduced its position in WEC Energy Group Inc. (NYSE:WEC) by 19.2% during the third quarter, Holdings Channel reports. The fund owned 158,016 shares of the company’s stock after selling 37,594 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in WEC Energy Group were worth $9,462,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of WEC. Cantab Capital Partners LLP bought a new position in WEC Energy Group during the second quarter worth approximately $108,000. Financial Architects Inc raised its position in WEC Energy Group by 240.3% in the second quarter. Financial Architects Inc now owns 2,130 shares of the company’s stock worth $139,000 after buying an additional 1,504 shares during the last quarter. Washington Trust Bank raised its position in WEC Energy Group by 73.6% in the third quarter. Washington Trust Bank now owns 2,135 shares of the company’s stock worth $128,000 after buying an additional 905 shares during the last quarter. Farmers National Bank bought a new position in WEC Energy Group during the second quarter worth approximately $144,000. Finally, Evercore Wealth Management LLC raised its position in WEC Energy Group by 9.9% in the second quarter. Evercore Wealth Management LLC now owns 2,224 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the last quarter. 68.70% of the stock is owned by hedge funds and other institutional investors.
Shares of WEC Energy Group Inc. (NYSE:WEC) traded up 0.16% during midday trading on Tuesday, reaching $58.13. The company’s stock had a trading volume of 1,243,000 shares. The company’s 50-day moving average price is $57.28 and its 200-day moving average price is $60.69. The company has a market cap of $18.35 billion, a PE ratio of 19.95 and a beta of 0.06. WEC Energy Group Inc. has a 12 month low of $47.98 and a 12 month high of $66.10.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.61 by $0.08. The firm earned $1.71 billion during the quarter, compared to analyst estimates of $2.15 billion. WEC Energy Group had a return on equity of 10.76% and a net margin of 12.58%. WEC Energy Group’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. On average, equities analysts anticipate that WEC Energy Group Inc. will post $2.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.98 annualized dividend and a dividend yield of 3.41%. WEC Energy Group’s dividend payout ratio (DPR) is 68.04%.
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A number of research firms have recently commented on WEC. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a report on Wednesday, November 9th. Guggenheim initiated coverage on WEC Energy Group in a research note on Thursday, November 3rd. They set a “buy” rating and a $63.00 price objective for the company. Zacks Investment Research lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, September 16th. Finally, Argus reissued a “buy” rating and set a $70.00 price objective (up previously from $65.00) on shares of WEC Energy Group in a research note on Tuesday, August 2nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $61.78.
WEC Energy Group Company Profile
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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