OLD Republic International Corp Continues to Hold Stake in WEC Energy Group, Inc. (NYSE:WEC)
OLD Republic International Corp continued to hold its position in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, Holdings Channel reports. The firm owned 313,151 shares of the utilities provider’s stock at the end of the second quarter. OLD Republic International Corp’s holdings in WEC Energy Group were worth $19,221,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of WEC. Advisors Asset Management Inc. raised its position in WEC Energy Group by 5.7% in the second quarter. Advisors Asset Management Inc. now owns 182,628 shares of the utilities provider’s stock valued at $11,210,000 after buying an additional 9,799 shares during the last quarter. Sigma Planning Corp raised its stake in shares of WEC Energy Group by 3.7% in the second quarter. Sigma Planning Corp now owns 3,766 shares of the utilities provider’s stock worth $231,000 after buying an additional 134 shares in the last quarter. Keystone Financial Planning Inc. raised its stake in shares of WEC Energy Group by 2.2% in the second quarter. Keystone Financial Planning Inc. now owns 58,764 shares of the utilities provider’s stock worth $3,607,000 after buying an additional 1,237 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of WEC Energy Group during the second quarter worth $683,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of WEC Energy Group during the second quarter worth $4,054,000. Institutional investors and hedge funds own 70.72% of the company’s stock.
WEC Energy Group, Inc. (NYSE WEC) opened at 63.84 on Friday. The stock has a market cap of $20.15 billion, a PE ratio of 20.93 and a beta of 0.11. The firm’s 50-day moving average price is $62.52 and its 200-day moving average price is $60.98. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.94.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. Equities analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders 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 annualized dividend and a yield of 3.26%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
A number of brokerages have recently weighed in on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Ladenburg Thalmann Financial Services lifted their price objective on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. BidaskClub lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $62.86.
In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total transaction of $966,875.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.97% of the stock is currently owned by company 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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