Alley Co LLC Has $566,000 Stake in WEC Energy Group, Inc. (NYSE:WEC)
Alley Co LLC continued to hold its position in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, Holdings Channel reports. The firm owned 9,214 shares of the utilities provider’s stock at the end of the second quarter. Alley Co LLC’s holdings in WEC Energy Group were worth $566,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Edgemoor Investment Advisors Inc. bought a new position in WEC Energy Group during the first quarter valued at about $202,000. Shell Asset Management Co. raised its position in WEC Energy Group by 7.5% in the first quarter. Shell Asset Management Co. now owns 36,628 shares of the utilities provider’s stock valued at $2,221,000 after buying an additional 2,565 shares in the last quarter. Hennessy Advisors Inc. raised its position in WEC Energy Group by 1.6% in the first quarter. Hennessy Advisors Inc. now owns 808,590 shares of the utilities provider’s stock valued at $49,025,000 after buying an additional 13,000 shares in the last quarter. Archford Capital Strategies LLC raised its position in WEC Energy Group by 20.4% in the first quarter. Archford Capital Strategies LLC now owns 7,735 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,313 shares in the last quarter. Finally, Advisor Partners LLC raised its position in WEC Energy Group by 22.1% in the first quarter. Advisor Partners LLC now owns 6,705 shares of the utilities provider’s stock valued at $407,000 after buying an additional 1,215 shares in the last quarter. Institutional investors and hedge funds own 70.72% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 64.09 on Monday. The firm has a market cap of $20.23 billion, a P/E ratio of 21.01 and a beta of 0.11. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.65. The company’s 50-day moving average price is $62.43 and its 200 day moving average price is $60.72.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.25%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/07/alley-co-llc-has-566000-stake-in-wec-energy-group-inc-nysewec.html.
Several research analysts have recently issued reports on WEC shares. Barclays PLC restated an “equal weight” rating and issued a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Finally, Deutsche Bank AG raised their price target on WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.86.
In other news, VP Susan H. Martin sold 15,470 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.97% of the stock is 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.
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC).
Receive News & Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.