Captrust Financial Advisors Takes Position in WEC Energy Group, Inc. (WEC)
Captrust Financial Advisors purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,157 shares of the utilities provider’s stock, valued at approximately $132,000.
Other large investors have also modified their holdings of the company. Edgemoor Investment Advisors Inc. acquired a new position in WEC Energy Group in the 1st quarter worth approximately $202,000. Principal Financial Group Inc. increased its holdings in WEC Energy Group by 362.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after buying an additional 1,719,955 shares during the period. ARGI Investment Services LLC acquired a new position in WEC Energy Group in the 2nd quarter worth approximately $870,000. KBC Group NV increased its holdings in WEC Energy Group by 14.1% in the 2nd quarter. KBC Group NV now owns 33,577 shares of the utilities provider’s stock worth $2,061,000 after buying an additional 4,152 shares during the period. Finally, Archford Capital Strategies LLC increased its holdings in WEC Energy Group by 20.4% in the 1st quarter. Archford Capital Strategies LLC now owns 7,735 shares of the utilities provider’s stock worth $469,000 after buying an additional 1,313 shares during the period. Institutional investors own 70.79% of the company’s stock.
Shares of WEC Energy Group, Inc. (WEC) opened at 66.07 on Friday. The firm has a market cap of $20.85 billion, a PE ratio of 21.66 and a beta of 0.12. WEC Energy Group, Inc. has a 1-year low of $53.66 and a 1-year high of $67.20. The company has a 50-day moving average of $64.81 and a 200-day moving average of $62.21.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping 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 firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. WEC Energy Group’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, August 10th. WEC Energy Group’s dividend payout ratio is presently 68.42%.
A number of equities research analysts have recently commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services raised 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $62.86.
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In related news, Director Gale E. Klappa sold 100,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Scott J. Lauber sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.00, for a total value of $97,500.00. The disclosure for this sale can be found here. Insiders have sold 192,190 shares of company stock worth $12,435,484 in the last ninety days. 0.97% of the stock is currently owned by corporate insiders.
About WEC Energy Group
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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