Ffcm LLC Has $1.39 Million Holdings in WEC Energy Group Inc (WEC)
Ffcm LLC boosted its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 27.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,008 shares of the utilities provider’s stock after acquiring an additional 4,480 shares during the quarter. Ffcm LLC’s holdings in WEC Energy Group were worth $1,394,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of WEC. Wells Fargo & Company MN increased its stake in WEC Energy Group by 36.6% during the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after acquiring an additional 1,972,929 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of WEC Energy Group by 170.9% during the fourth quarter. APG Asset Management N.V. now owns 2,403,530 shares of the utilities provider’s stock valued at $132,967,000 after buying an additional 1,516,384 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of WEC Energy Group by 28.9% during the third quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock valued at $178,873,000 after buying an additional 638,010 shares during the last quarter. FMR LLC grew its stake in shares of WEC Energy Group by 189.3% during the second quarter. FMR LLC now owns 536,408 shares of the utilities provider’s stock valued at $32,925,000 after buying an additional 351,003 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $15,108,000. 72.97% of the stock is currently owned by institutional investors.
Shares of WEC Energy Group Inc (NYSE WEC) opened at $61.10 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.57 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $19,281.61, a P/E ratio of 19.46, a P/E/G ratio of 4.38 and a beta of 0.05. WEC Energy Group Inc has a twelve month low of $56.63 and a twelve month high of $70.09.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be issued a dividend of $0.5525 per share. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 dividend on an annualized basis and a yield of 3.62%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. WEC Energy Group’s dividend payout ratio is currently 54.88%.
A number of research analysts have recently commented on WEC shares. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Saturday, January 6th. Guggenheim reaffirmed a “buy” rating and set a $73.00 target price on shares of WEC Energy Group in a research note on Wednesday, January 3rd. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. Wells Fargo & Co cut their target price on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. Finally, UBS Group started coverage on WEC Energy Group in a research note on Friday, February 2nd. They set a “neutral” rating and a $65.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $67.40.
In other WEC Energy Group news, VP Scott J. Lauber sold 1,240 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gale E. Klappa sold 52,722 shares of the company’s stock in a transaction 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. 0.97% of the stock is owned by corporate insiders.
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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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