Savior LLC acquired a new position in shares of WEC Energy Group Inc (NYSE:WEC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 328 shares of the utilities provider’s stock, valued at approximately $30,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of WEC. Front Row Advisors LLC boosted its holdings in WEC Energy Group by 53.8% in the 2nd quarter. Front Row Advisors LLC now owns 366 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 128 shares during the period. Quest Capital Management Inc. ADV purchased a new stake in shares of WEC Energy Group in the third quarter worth $35,000. River & Mercantile Asset Management LLP purchased a new stake in shares of WEC Energy Group in the second quarter worth $36,000. Alpha Windward LLC bought a new stake in WEC Energy Group during the fourth quarter valued at $36,000. Finally, Prestige Wealth Management Group LLC bought a new stake in WEC Energy Group during the second quarter valued at $47,000. Institutional investors and hedge funds own 76.91% of the company’s stock.
In other WEC Energy Group news, Director Barbara L. Bowles sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $88.07, for a total value of $88,070.00. Insiders own 0.75% of the company’s stock.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.68 billion. WEC Energy Group had a return on equity of 10.91% and a net margin of 14.32%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, equities analysts anticipate that WEC Energy Group Inc will post 3.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 14th will be given a $0.6325 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, February 13th. This represents a $2.53 dividend on an annualized basis and a yield of 2.56%. WEC Energy Group’s payout ratio is presently 70.66%.
Several research firms recently commented on WEC. Wells Fargo & Co restated a “buy” rating on shares of WEC Energy Group in a research report on Monday, December 9th. JPMorgan Chase & Co. began coverage on WEC Energy Group in a research report on Tuesday, October 8th. They set a “neutral” rating and a $99.00 price target for the company. Credit Suisse Group cut their price objective on WEC Energy Group from $85.00 to $81.00 and set an “underperform” rating for the company in a report on Wednesday, November 13th. ValuEngine lowered WEC Energy Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup upped their price objective on shares of WEC Energy Group from $93.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. WEC Energy Group presently has an average rating of “Hold” and an average price target of $87.55.
About WEC Energy Group
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.
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