Santa Barbara Asset Management LLC increased its position in WEC Energy Group Inc (NYSE:WEC) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,896,892 shares of the utilities provider’s stock after buying an additional 20,413 shares during the period. Santa Barbara Asset Management LLC owned 0.60% of WEC Energy Group worth $119,087,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of WEC. Wells Fargo & Company MN lifted its position in shares of WEC Energy Group by 36.6% in the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after buying an additional 1,972,929 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of WEC Energy Group by 362.0% in the second quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after buying an additional 1,719,955 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of WEC Energy Group by 2,687.2% in the second quarter. Janus Henderson Group PLC now owns 1,200,291 shares of the utilities provider’s stock worth $73,674,000 after buying an additional 1,157,227 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of WEC Energy Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock worth $2,023,235,000 after buying an additional 795,189 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of WEC Energy Group by 28.9% in the third quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock worth $178,873,000 after buying an additional 638,010 shares in the last quarter. Institutional investors own 72.60% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Bank of America initiated coverage on WEC Energy Group in a research note on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $65.43.
In other news, VP Scott J. Lauber sold 1,240 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Gale E. Klappa sold 52,722 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. Insiders have sold 68,962 shares of company stock worth $4,735,707 over the last three months. 0.97% of the stock is currently owned by insiders.
Shares of WEC Energy Group Inc (NYSE:WEC) traded down $0.34 during midday trading on Wednesday, reaching $68.24. The company’s stock had a trading volume of 1,811,600 shares, compared to its average volume of 1,645,750. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. WEC Energy Group Inc has a 52 week low of $55.36 and a 52 week high of $70.09. The company has a market capitalization of $21,642.18, a PE ratio of 22.56, a P/E/G ratio of 4.16 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. equities analysts predict that WEC Energy Group Inc will post 3.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, November 13th. This represents a $2.08 annualized dividend and a yield of 3.05%. WEC Energy Group’s payout ratio is currently 68.42%.
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WEC Energy Group 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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