WEC Energy Group, Inc. (NYSE:WEC) Stake Raised by Reilly Financial Advisors LLC
Reilly Financial Advisors LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,131 shares of the utilities provider’s stock after buying an additional 2,210 shares during the period. Reilly Financial Advisors LLC’s holdings in WEC Energy Group were worth $1,481,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its position in WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares in the last quarter. Cowen Prime Services LLC purchased a new position in WEC Energy Group during the first quarter valued at $152,000. Ruggie Capital Group purchased a new position in WEC Energy Group during the first quarter valued at $161,000. Van ECK Associates Corp raised its position in WEC Energy Group by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,749 shares of the utilities provider’s stock valued at $167,000 after buying an additional 420 shares in the last quarter. Finally, Enterprise Financial Services Corp raised its position in WEC Energy Group by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 2,822 shares of the utilities provider’s stock valued at $171,000 after buying an additional 22 shares in the last quarter. Institutional investors own 70.84% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.390% on Friday, reaching $63.035. 336,000 shares of the company were exchanged. The company’s 50 day moving average is $62.54 and its 200 day moving average is $60.46. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $65.63. The firm has a market capitalization of $19.89 billion, a PE ratio of 21.082 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. WEC Energy Group had a net margin of 12.54% and a return on equity of 10.65%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Analysts forecast that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.31%. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.80%.
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Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Ladenburg Thalmann Financial Services boosted their price objective on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Finally, Deutsche Bank AG boosted their price objective on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $63.67.
In related news, Director Gale E. Klappa sold 100,610 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $61.67, for a total transaction of $6,204,618.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan H. Martin sold 15,470 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $62.50, for a total transaction of $966,875.00. The disclosure for this sale can be found here. Insiders have sold 128,275 shares of company stock valued at $7,920,155 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
WEC Energy Group Company 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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