Oakbrook Investments LLC decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,697 shares of the utilities provider’s stock after selling 710 shares during the period. Oakbrook Investments LLC’s holdings in WEC Energy Group were worth $779,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. Edgemoor Investment Advisors Inc. bought a new position in WEC Energy Group during the first quarter worth $202,000. Shell Asset Management Co. raised its position 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 worth $2,221,000 after buying an additional 2,565 shares during the last quarter. Hennessy Advisors Inc. raised its position 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 worth $49,025,000 after buying an additional 13,000 shares during the last quarter. Archford Capital Strategies LLC raised its position 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 worth $469,000 after buying an additional 1,313 shares during the last quarter. Finally, BlackRock Inc. raised its position 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 worth $1,566,618,000 after buying an additional 25,073,593 shares during the last quarter. Institutional investors and hedge funds own 70.78% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.83% during trading on Friday, hitting $64.59. The company had a trading volume of 3,423,708 shares. The firm has a market capitalization of $20.38 billion, a P/E ratio of 21.18 and a beta of 0.11. The stock’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 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. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.57 earnings per share. Equities research analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be given a $0.52 dividend. 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 payout ratio is currently 68.42%.
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WEC has been the subject of a number of recent research reports. 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 research note on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Finally, Wolfe Research reiterated 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 assigned a hold rating and one has issued a buy rating to the company. WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $62.86.
In other WEC Energy Group news, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total value of $6,474,210.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Tom Metcalfe sold 10,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total transaction of $644,400.00. Following the completion of the transaction, the vice president now directly owns 16,059 shares of the company’s stock, valued at $1,034,841.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,970 shares of company stock valued at $8,085,485. 0.97% of the stock is 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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