Huntington National Bank increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,085 shares of the utilities provider’s stock after buying an additional 7,182 shares during the period. Huntington National Bank’s holdings in WEC Energy Group were worth $8,476,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in WEC Energy Group during the fourth quarter worth $536,000. Pekin Singer Strauss Asset Management IL bought a new stake in WEC Energy Group during the fourth quarter worth $201,000. UBS Asset Management Americas Inc. raised its stake in WEC Energy Group by 0.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,341,117 shares of the utilities provider’s stock worth $195,957,000 after buying an additional 14,553 shares in the last quarter. Teachers Advisors LLC raised its stake in WEC Energy Group by 9.4% in the fourth quarter. Teachers Advisors LLC now owns 562,120 shares of the utilities provider’s stock worth $32,968,000 after buying an additional 48,170 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new stake in WEC Energy Group during the fourth quarter worth $1,343,000. 70.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.83% during midday trading on Friday, hitting $64.59. 3,423,708 shares of the stock traded hands. WEC Energy Group, Inc. has a one year low of $53.66 and a one year high of $64.94. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 21.18 and a beta of 0.11. The firm has a 50-day moving average price of $62.76 and a 200 day moving average price of $61.20.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate 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. Investors of record on Monday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.22%. The ex-dividend date is Thursday, August 10th. WEC Energy Group’s dividend payout ratio is presently 68.42%.
A number of analysts have recently weighed in on WEC shares. Barclays PLC reaffirmed 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 report on Monday, April 24th. Ladenburg Thalmann Financial Services increased their target price on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, June 9th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $62.86.
In other WEC Energy Group news, VP Tom Metcalfe sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 can be accessed through this link. Also, VP Susan H. Martin sold 15,470 shares of the stock in a transaction on Thursday, May 25th. The stock was 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. Over the last three months, insiders have 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.
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