Associated Banc Corp boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 57.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,702 shares of the company’s stock after buying an additional 11,188 shares during the period. Associated Banc Corp’s holdings in WEC Energy Group were worth $1,801,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Management increased its position in shares of WEC Energy Group by 0.3% in the second quarter. Integrated Wealth Management now owns 4,338 shares of the company’s stock worth $283,000 after buying an additional 11 shares during the period. Hedeker Wealth LLC purchased a new position in shares of WEC Energy Group during the third quarter worth $207,000. Tarbox Group Inc. increased its position in shares of WEC Energy Group by 0.4% in the third quarter. Tarbox Group Inc. now owns 3,539 shares of the company’s stock worth $212,000 after buying an additional 15 shares during the period. Hudock Capital Group LLC increased its position in shares of WEC Energy Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 4,256 shares of the company’s stock worth $277,000 after buying an additional 16 shares during the period. Finally, Gradient Investments LLC increased its position in shares of WEC Energy Group by 0.5% in the third quarter. Gradient Investments LLC now owns 4,216 shares of the company’s stock worth $252,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.
WEC Energy Group, Inc. (NYSE:WEC) traded down 0.66% on Friday, hitting $57.10. 385,577 shares of the company traded hands. The stock has a market cap of $18.02 billion, a PE ratio of 19.29 and a beta of 0.06. The stock’s 50-day moving average is $58.25 and its 200 day moving average is $58.85. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $66.10.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. WEC Energy Group had a return on equity of 10.63% and a net margin of 12.58%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. WEC Energy Group’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that WEC Energy Group, Inc. will post $3.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 14th will be paid a dividend of $0.52 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, February 10th. WEC Energy Group’s dividend payout ratio (DPR) is currently 70.51%.
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A number of research analysts have weighed in on the stock. Mizuho downgraded shares of WEC Energy Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $59.00 in a research report on Thursday, February 2nd. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research report on Wednesday, November 9th. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday, January 11th. Guggenheim assumed coverage on shares of WEC Energy Group in a research report on Thursday, November 3rd. They issued a “buy” rating and a $63.00 price objective for the company. Finally, Wolfe Research downgraded shares of WEC Energy Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 2nd. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $63.00.
In related news, insider Allen L. Leverett sold 29,715 shares of WEC Energy Group stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $58.32, for a total transaction of $1,732,978.80. Following the sale, the insider now directly owns 78,247 shares in the company, valued at approximately $4,563,365.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.81% of the stock is owned by company insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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