Palladium Partners LLC maintained its position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,751 shares of the utilities provider’s stock at the end of the second quarter. Palladium Partners LLC’s holdings in WEC Energy Group were worth $292,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in WEC. Hudock Capital Group LLC raised its stake in WEC Energy Group by 0.4% in the first quarter. Hudock Capital Group LLC now owns 4,305 shares of the utilities provider’s stock worth $261,000 after buying an additional 17 shares during the period. Enterprise Financial Services Corp raised its stake in WEC Energy Group by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 2,822 shares of the utilities provider’s stock worth $171,000 after buying an additional 22 shares during the period. Arvest Bank Trust Division raised its stake in WEC Energy Group by 0.7% in the second quarter. Arvest Bank Trust Division now owns 4,147 shares of the utilities provider’s stock worth $255,000 after buying an additional 27 shares during the period. Buckingham Asset Management LLC raised its stake in WEC Energy Group by 0.9% in the first quarter. Buckingham Asset Management LLC now owns 3,992 shares of the utilities provider’s stock worth $242,000 after buying an additional 35 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in WEC Energy Group by 0.6% in the second quarter. Parkside Financial Bank & Trust now owns 7,483 shares of the utilities provider’s stock worth $459,000 after buying an additional 41 shares during the period. Institutional investors own 70.78% of the company’s stock.
Shares of WEC Energy Group, Inc. (WEC) traded up 0.83% during trading on Friday, reaching $64.59. 3,423,708 shares of the company traded hands. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $64.94. The stock’s 50 day moving average price is $62.76 and its 200-day moving average price is $61.20. The stock has a market cap of $20.38 billion, a P/E ratio of 21.18 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. 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 prior year, the business posted $0.57 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, August 10th. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
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A number of research firms have recently issued reports on WEC. 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. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Ladenburg Thalmann Financial Services raised their price objective 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. BidaskClub lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $62.86.
In related news, VP Tom Metcalfe sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total value of $644,400.00. Following 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 can be accessed through 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 value of $966,875.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,970 shares of company stock worth $8,085,485. 0.97% of the stock is owned by company insiders.
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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