WealthTrust Axiom LLC held its stake in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,593 shares of the utilities provider’s stock at the end of the second quarter. WealthTrust Axiom LLC’s holdings in WEC Energy Group were worth $281,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of WEC. Edgemoor Investment Advisors Inc. bought a new stake in WEC Energy Group during the first quarter valued at $202,000. Shell Asset Management Co. increased its stake in WEC Energy Group by 7.5% in the first quarter. Shell Asset Management Co. now owns 36,628 shares of the utilities provider’s stock valued at $2,221,000 after buying an additional 2,565 shares during the period. Hennessy Advisors Inc. increased its stake in WEC Energy Group by 1.6% in the first quarter. Hennessy Advisors Inc. now owns 808,590 shares of the utilities provider’s stock valued at $49,025,000 after buying an additional 13,000 shares during the period. Archford Capital Strategies LLC increased its stake in WEC Energy Group by 20.4% in the first quarter. Archford Capital Strategies LLC now owns 7,735 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,313 shares during the period. Finally, BlackRock Inc. increased its stake in 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 period. Hedge funds and other institutional investors own 70.78% of the company’s stock.
WEC Energy Group, Inc. (NYSE:WEC) traded up 0.83% during trading on Friday, hitting $64.59. 3,423,708 shares of the company’s stock traded hands. The stock has a market cap of $20.38 billion, a P/E ratio of 21.18 and a beta of 0.11. The firm’s 50-day moving average price is $62.76 and its 200 day moving average price is $61.20. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $64.94.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s revenue 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 fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.22%. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.
Several analysts recently weighed in on WEC shares. Barclays PLC reiterated an “equal weight” rating and issued a $68.00 target price (up previously from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Two 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 company. The stock currently has an average rating of “Hold” and an average target price of $62.86.
In other WEC Energy Group news, VP Tom Metcalfe sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total transaction of $644,400.00. Following the transaction, the vice president now directly owns 16,059 shares in the company, valued at approximately $1,034,841.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Susan H. Martin sold 15,470 shares of the stock in a transaction on 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. Insiders have sold a total of 125,970 shares of company stock worth $8,085,485 over the last quarter. 0.97% of the stock is currently owned by 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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