WEC Energy Group Inc. (WEC) Stock Price Down 2.3%
Shares of WEC Energy Group Inc. (NYSE:WEC) traded down 2.3% during trading on Friday . The stock traded as low as $59.80 and last traded at $59.82, with a volume of 1,199,191 shares changing hands. The stock had previously closed at $61.25.
Separately, Argus reissued a “buy” rating and set a $70.00 price target (up from $65.00) on shares of WEC Energy Group in a research note on Tuesday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.25.
The stock has a market cap of $18.84 billion and a P/E ratio of 21.31. The firm has a 50 day moving average of $63.15 and a 200-day moving average of $60.40.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. During the same quarter in the previous year, the firm posted $0.58 earnings per share. The firm earned $1.60 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group’s quarterly revenue was up 61.7% compared to the same quarter last year. Equities research analysts anticipate that WEC Energy Group Inc. will post $2.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Wednesday, August 10th.
In other news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $60.19, for a total value of $1,504,750.00. Following the completion of the transaction, the director now directly owns 173,804 shares in the company, valued at approximately $10,461,262.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Allen L. Leverett sold 68,210 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were 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.
Several large investors recently made changes to their positions in the stock. US Bancorp DE raised its stake 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 valued at $13,938,000 after buying an additional 14,793 shares during the period. Jennison Associates LLC raised its stake in shares of WEC Energy Group by 24.8% in the fourth quarter. Jennison Associates LLC now owns 889,634 shares of the company’s stock valued at $45,647,000 after buying an additional 177,056 shares during the period. Finally, RS Investment Management Co. LLC bought a new stake in shares of WEC Energy Group during the fourth quarter valued at about $5,983,000.
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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