BB&T Securities LLC increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,860 shares of the utilities provider’s stock after buying an additional 625 shares during the period. BB&T Securities LLC’s holdings in WEC Energy Group were worth $961,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northwest Quadrant Wealth Management LLC bought a new position in WEC Energy Group during the fourth quarter worth approximately $103,000. Trust Co. of Vermont boosted its position 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 during the last quarter. Van ECK Associates Corp boosted its position in WEC Energy Group by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 2,329 shares of the utilities provider’s stock worth $137,000 after buying an additional 461 shares during the last quarter. Cowen Prime Services LLC bought a new position in WEC Energy Group during the first quarter worth approximately $152,000. Finally, Ruggie Capital Group bought a new position in WEC Energy Group during the first quarter worth approximately $161,000. 70.86% of the stock is currently owned by institutional investors.
Shares of WEC Energy Group, Inc. (NYSE WEC) traded up 0.55% during mid-day trading on Friday, reaching $64.23. 2,648,879 shares of the company’s stock were exchanged. The stock has a market cap of $20.27 billion, a price-to-earnings ratio of 21.48 and a beta of 0.12. The stock has a 50 day moving average price of $61.99 and a 200 day moving average price of $59.69. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $66.10.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.42 billion. WEC Energy Group had a return on equity of 10.65% and a net margin of 12.54%. WEC Energy Group’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. Equities research analysts predict that WEC Energy Group, Inc. will post $3.10 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Wednesday, May 10th. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.80%.
A number of research firms have commented on WEC. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. Ladenburg Thalmann Financial Services upped their target price on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, June 9th. Barclays PLC reiterated an “equal weight” rating and set a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a research note on Sunday, April 23rd. Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Finally, Deutsche Bank AG boosted their price target on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. WEC Energy Group has an average rating of “Hold” and a consensus target price of $64.57.
In related news, VP Tom Metcalfe sold 7,935 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $61.30, for a total transaction of $486,415.50. Following the transaction, the vice president now directly owns 13,994 shares of the company’s stock, valued at approximately $857,832.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan H. Martin sold 15,470 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total value of $966,875.00. The disclosure for this sale can be found here. Insiders have sold a total of 134,925 shares of company stock worth $8,329,130 over the last three months. 0.97% of the stock is currently owned by corporate insiders.
WEC Energy Group Company 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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