Pitcairn Co. Sells 1 Shares of WEC Energy Group, Inc. (WEC)
Pitcairn Co. cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,736 shares of the utilities provider’s stock after selling 1 shares during the period. Pitcairn Co.’s holdings in WEC Energy Group were worth $229,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of WEC. Edgemoor Investment Advisors Inc. purchased a new stake in shares of WEC Energy Group during the first quarter valued at $202,000. Shell Asset Management Co. boosted its stake in shares of 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 during the last quarter. Hennessy Advisors Inc. boosted its stake in shares of 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 during the last quarter. Archford Capital Strategies LLC boosted its stake in shares of 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 during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of WEC Energy Group by 3,275.9% in the first quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock valued at $1,566,618,000 after buying an additional 25,073,593 shares during the last quarter. 70.78% of the stock is currently owned by institutional investors.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 64.06 on Friday. The stock has a market capitalization of $20.22 billion, a PE ratio of 21.00 and a beta of 0.11. The stock has a 50 day moving average price of $62.67 and a 200-day moving average price of $61.16. WEC Energy Group, Inc. has a 1-year low of $53.66 and a 1-year high of $64.94.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $0.57 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, analysts forecast that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be issued a $0.52 dividend. 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 is presently 68.42%.
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Several equities research analysts recently weighed in on WEC shares. Barclays PLC reaffirmed an “equal weight” rating and issued a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a research note on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $62.86.
In other news, VP Tom Metcalfe sold 10,000 shares of WEC Energy Group stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total value of $644,400.00. Following the transaction, the vice president now directly owns 16,059 shares in the company, valued at approximately $1,034,841.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan H. Martin sold 15,470 shares of WEC Energy Group stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total value of $966,875.00. The disclosure for this sale can be found here. Insiders sold a total of 125,970 shares of company stock worth $8,085,485 over the last quarter. Company insiders own 0.97% of the company’s stock.
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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