Haverford Trust Co. Buys Shares of 3,044 WEC Energy Group Inc (WEC)
Haverford Trust Co. bought a new position in WEC Energy Group Inc (NYSE:WEC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,044 shares of the utilities provider’s stock, valued at approximately $202,000.
Several other institutional investors and hedge funds also recently modified their holdings of WEC. Advisory Services Network LLC raised its holdings in shares of WEC Energy Group by 157.2% in the 4th quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,033 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $122,000. Hanson & Doremus Investment Management acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $133,000. Calton & Associates Inc. acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $175,000. Finally, Crewe Advisors LLC acquired a new position in shares of WEC Energy Group in the 4th quarter worth approximately $193,000. 72.89% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the company. Guggenheim reissued a “buy” rating and issued a $66.00 target price on shares of WEC Energy Group in a report on Friday, February 23rd. Credit Suisse Group reissued a “neutral” rating and issued a $63.00 target price (down from $65.00) on shares of WEC Energy Group in a report on Friday, February 23rd. UBS Group started coverage on WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target on the stock. Zacks Investment Research lowered WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Wells Fargo & Co decreased their price target on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $66.00.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.94 billion. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. WEC Energy Group’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 EPS. analysts anticipate that WEC Energy Group Inc will post 3.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Wednesday, February 14th were given a dividend of $0.5525 per share. The ex-dividend date was Tuesday, February 13th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. This represents a $2.21 dividend on an annualized basis and a yield of 3.72%. WEC Energy Group’s dividend payout ratio is 58.31%.
In related news, Director Barbara L. Bowles sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.97% of the stock is owned by corporate insiders.
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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