Fiduciary Trust Co. lowered its position in WEC Energy Group, Inc. (NYSE:WEC) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,265 shares of the utilities provider’s stock after selling 212 shares during the quarter. Fiduciary Trust Co.’s holdings in WEC Energy Group were worth $814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. boosted its stake in WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock worth $100,000 after buying an additional 132 shares in the last quarter. Trust Co. of Vermont boosted its stake in WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock worth $106,000 after buying an additional 187 shares in the last quarter. Delphi Private Advisors LLC boosted its stake in WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after buying an additional 1,276 shares in the last quarter. Country Trust Bank boosted its stake in WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after buying an additional 112 shares in the last quarter. Finally, Private Vista LLC bought a new stake in WEC Energy Group in the second quarter valued at approximately $136,000. 70.79% of the stock is owned by institutional investors and hedge funds.
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WEC has been the subject of several recent research reports. Ladenburg Thalmann Financial Services boosted their price objective on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, June 9th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. BidaskClub downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, KeyCorp restated a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.86.
In related news, Director Gale E. Klappa sold 100,500 shares of the business’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 filing with the SEC, which can be accessed through the SEC website. Also, VP Scott J. Lauber sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were 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. Over the last 90 days, insiders have sold 192,190 shares of company stock worth $12,435,484. 0.97% of the stock is owned by company insiders.
WEC Energy Group, Inc. (NYSE WEC) traded down 0.21% during midday trading on Friday, hitting $65.67. The stock had a trading volume of 857,576 shares. The stock has a market cap of $20.72 billion, a PE ratio of 21.53 and a beta of 0.12. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $67.20. The company’s 50 day moving average price is $64.71 and its 200-day moving average price is $62.17.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts forecast that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.16%. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.
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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