Legacy Capital Partners Inc. Decreases Position in WEC Energy Group, Inc. (WEC)
Legacy Capital Partners Inc. decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,754 shares of the utilities provider’s stock after selling 775 shares during the period. Legacy Capital Partners Inc.’s holdings in WEC Energy Group were worth $1,742,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of WEC. FMR LLC lifted its stake in WEC Energy Group by 0.6% during the 1st quarter. FMR LLC now owns 185,405 shares of the utilities provider’s stock worth $11,241,000 after acquiring an additional 1,155 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in WEC Energy Group by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,600 shares of the utilities provider’s stock worth $1,203,000 after acquiring an additional 200 shares in the last quarter. BTIM Corp. lifted its stake in WEC Energy Group by 8.4% during the 2nd quarter. BTIM Corp. now owns 14,215 shares of the utilities provider’s stock worth $872,000 after acquiring an additional 1,102 shares in the last quarter. BB&T Corp lifted its stake in WEC Energy Group by 20.3% during the 2nd quarter. BB&T Corp now owns 66,480 shares of the utilities provider’s stock worth $4,081,000 after acquiring an additional 11,207 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC lifted its stake in WEC Energy Group by 2.2% during the 2nd quarter. Osborn Williams & Donohoe LLC now owns 3,475 shares of the utilities provider’s stock worth $214,000 after acquiring an additional 75 shares in the last quarter. 71.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WEC Energy Group, Inc. (WEC) traded down $0.58 during midday trading on Monday, hitting $68.19. The stock had a trading volume of 1,108,300 shares, compared to its average volume of 1,649,273. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. WEC Energy Group, Inc. has a 1-year low of $54.96 and a 1-year high of $70.09. The firm has a market cap of $21,520.00, a price-to-earnings ratio of 22.43, a PEG ratio of 4.13 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.69 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. sell-side analysts forecast that WEC Energy Group, Inc. will post 3.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 3.05%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
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In related news, VP Scott J. Lauber sold 1,240 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Gale E. Klappa sold 52,722 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. Insiders have sold a total of 93,504 shares of company stock worth $6,331,754 in the last 90 days. 0.97% of the stock is currently owned by company insiders.
Several research firms recently issued reports on WEC. Bank of America Corporation increased their target price on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Finally, BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $65.43.
WEC Energy Group 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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