Chicago Partners Investment Group LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,932 shares of the utilities provider’s stock, valued at approximately $176,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. 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 during the last quarter. Trust Co. of Vermont boosted its stake in shares of 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 valued at $106,000 after buying an additional 187 shares in the last quarter. Delphi Private Advisors LLC raised its position 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 valued at $120,000 after buying an additional 1,276 shares during the last quarter. Country Trust Bank raised its position 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 valued at $127,000 after buying an additional 112 shares during the last quarter. Finally, Financial Architects Inc raised its position in WEC Energy Group by 7.4% in the second quarter. Financial Architects Inc now owns 2,324 shares of the utilities provider’s stock valued at $142,000 after buying an additional 161 shares during the last quarter. 70.78% of the stock is currently owned by institutional investors and hedge funds.
WEC Energy Group, Inc. (NYSE WEC) traded up 0.83% during trading on Friday, hitting $64.59. 3,423,708 shares of the company traded hands. The stock has a market capitalization of $20.38 billion, a PE ratio of 21.18 and a beta of 0.11. The company’s 50 day moving average is $62.76 and its 200-day moving average is $61.20. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.94.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.22%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
Several equities analysts have recently weighed in on the stock. Barclays PLC reiterated an “equal weight” rating and set a $68.00 price objective (up previously from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Finally, Wolfe Research reissued a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $62.86.
In other news, Director Gale E. Klappa sold 100,500 shares of WEC Energy Group 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Susan H. Martin sold 15,470 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,970 shares of company stock worth $8,085,485. Insiders own 0.97% of the company’s stock.
About WEC Energy Group
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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