WEC Energy Group Inc. (WEC) Trading Down 1%
Shares of WEC Energy Group Inc. (NYSE:WEC) were down 1% during mid-day trading on Monday . The company 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.
A number of analysts recently issued reports on WEC shares. Deutsche Bank AG reaffirmed a “hold” rating and issued a $61.00 target price on shares of WEC Energy Group in a research report on Tuesday, April 19th. Argus reaffirmed a “buy” rating and issued a $70.00 target price (up previously from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $58.25.
The stock has a 50 day moving average price of $63.98 and a 200 day moving average price of $60.20. The stock has a market capitalization of $18.86 billion and a P/E ratio of 21.33.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.01. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.03 billion. WEC Energy Group’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS. On average, equities analysts expect that WEC Energy Group Inc. will post $2.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a dividend of $0.495 per share. The ex-dividend date is Wednesday, August 10th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.30%.
In other news, VP Joan M. Shafer sold 15,990 shares of the stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $58.67, for a total transaction of $938,133.30. Following the transaction, the vice president now owns 23,831 shares of the company’s stock, valued at approximately $1,398,164.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan H. Martin sold 40,000 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $65.05, for a total transaction of $2,602,000.00. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Investment Management of Virginia LLC boosted its position in WEC Energy Group by 0.5% in the fourth quarter. Investment Management of Virginia LLC now owns 25,185 shares of the company’s stock worth $1,292,000 after buying an additional 125 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of WEC Energy Group during the fourth quarter valued at $1,702,000. Oarsman Capital Inc. boosted its position in shares of WEC Energy Group by 0.5% in the fourth quarter. Oarsman Capital Inc. now owns 33,199 shares of the company’s stock valued at $1,703,000 after buying an additional 160 shares during the last quarter. Victory Capital Management Inc. boosted 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 valued at $2,548,000 after buying an additional 11,811 shares during the last quarter. Finally, Suntrust Banks Inc. boosted 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 valued at $2,654,000 after buying an additional 32,269 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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