Vaughan Nelson Investment Management L.P. Has $47.38 Million Position in WEC Energy Group Inc (WEC)

Vaughan Nelson Investment Management L.P. reduced its holdings in WEC Energy Group Inc (NYSE:WEC) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 709,670 shares of the utilities provider’s stock after selling 24,205 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in WEC Energy Group were worth $47,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. South Street Advisors LLC lifted its holdings in WEC Energy Group by 0.4% in the second quarter. South Street Advisors LLC now owns 180,490 shares of the utilities provider’s stock valued at $11,668,000 after buying an additional 750 shares during the period. Legacy Capital Partners Inc. lifted its holdings in WEC Energy Group by 3.1% in the third quarter. Legacy Capital Partners Inc. now owns 26,929 shares of the utilities provider’s stock valued at $1,796,000 after buying an additional 800 shares during the period. HL Financial Services LLC lifted its holdings in WEC Energy Group by 6.4% in the third quarter. HL Financial Services LLC now owns 13,365 shares of the utilities provider’s stock valued at $892,000 after buying an additional 808 shares during the period. Homrich & Berg lifted its holdings in WEC Energy Group by 6.6% in the second quarter. Homrich & Berg now owns 13,279 shares of the utilities provider’s stock valued at $858,000 after buying an additional 819 shares during the period. Finally, Atria Investments LLC lifted its holdings in WEC Energy Group by 16.0% in the third quarter. Atria Investments LLC now owns 6,538 shares of the utilities provider’s stock valued at $436,000 after buying an additional 901 shares during the period. Institutional investors and hedge funds own 73.01% of the company’s stock.

WEC opened at $70.47 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.34 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 4.83 and a beta of -0.03. WEC Energy Group Inc has a twelve month low of $58.48 and a twelve month high of $72.63.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.66 billion. WEC Energy Group had a net margin of 16.82% and a return on equity of 11.18%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. Research analysts predict that WEC Energy Group Inc will post 3.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 14th will be issued a $0.5525 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $2.21 annualized dividend and a yield of 3.14%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.38%.

In other WEC Energy Group news, Chairman Gale E. Klappa sold 146,618 shares of the stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $71.68, for a total value of $10,509,578.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.

Several equities analysts recently weighed in on WEC shares. Deutsche Bank increased their price objective on shares of WEC Energy Group from $67.00 to $68.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Howard Weil started coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 price objective on the stock. Scotia Howard Weill began coverage on shares of WEC Energy Group in a report on Tuesday, September 4th. They issued a “sector outperform” rating and a $72.00 price objective on the stock. Finally, Wells Fargo & Co increased their target price on shares of WEC Energy Group from $71.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $70.40.

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WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading: Coverage Ratio

Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group Inc (NYSE:WEC).

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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