Farmers & Merchants Investments Inc. Boosts Position in WEC Energy Group, Inc. (NYSE:WEC)

Farmers & Merchants Investments Inc. boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,718 shares of the utilities provider’s stock after buying an additional 1,800 shares during the period. Farmers & Merchants Investments Inc.’s holdings in WEC Energy Group were worth $5,937,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of WEC. BlackRock Inc. increased its stake in shares of WEC Energy Group by 3,275.9% in the first quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock valued at $1,566,618,000 after buying an additional 25,073,593 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of WEC Energy Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock valued at $1,950,302,000 after buying an additional 1,085,646 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of WEC Energy Group by 70.1% in the first quarter. Renaissance Technologies LLC now owns 1,514,902 shares of the utilities provider’s stock valued at $91,849,000 after buying an additional 624,400 shares during the last quarter. Magellan Asset Management Ltd increased its stake in shares of WEC Energy Group by 78.7% in the first quarter. Magellan Asset Management Ltd now owns 1,381,464 shares of the utilities provider’s stock valued at $84,000,000 after buying an additional 608,560 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of WEC Energy Group by 216.0% in the first quarter. Canada Pension Plan Investment Board now owns 663,005 shares of the utilities provider’s stock valued at $40,198,000 after buying an additional 453,179 shares in the last quarter. 70.78% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group, Inc. (NYSE:WEC) traded up 0.83% on Friday, reaching $64.59. 3,423,708 shares of the company were exchanged. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $64.94. The company’s 50-day moving average price is $62.76 and its 200-day moving average price is $61.20. The stock has a market capitalization of $20.38 billion, a P/E ratio of 21.18 and a beta of 0.11.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.22%. WEC Energy Group’s payout ratio is 68.42%.

COPYRIGHT VIOLATION WARNING: “Farmers & Merchants Investments Inc. Boosts Position in WEC Energy Group, Inc. (NYSE:WEC)” was first published by BNB Daily and is the sole property of of BNB Daily. If you are reading this report on another domain, it was copied illegally and reposted in violation of US and international copyright laws. The correct version of this report can be accessed at https://www.baseball-news-blog.com/2017/08/19/farmers-merchants-investments-inc-has-5-94-million-position-in-wec-energy-group-inc-nysewec-updated-updated-updated.html.

Several brokerages have recently issued reports on WEC. Ladenburg Thalmann Financial Services increased their price objective on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Barclays PLC reissued an “equal weight” rating and set a $68.00 price objective (up previously from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Wolfe Research reissued a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $62.86.

In other news, VP Tom Metcalfe sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following the completion of the sale, the vice president now owns 16,059 shares in the company, valued at approximately $1,034,841.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 100,500 shares of the company’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 125,970 shares of company stock valued at $8,085,485. Company 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.

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

Receive News & Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply