Wedbush Securities Inc. grew its stake in WEC Energy Group Inc (NYSE:WEC) by 35.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,060 shares of the utilities provider’s stock after purchasing an additional 2,360 shares during the period. Wedbush Securities Inc.’s holdings in WEC Energy Group were worth $605,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. raised its stake in shares of WEC Energy Group by 1,300.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 1,764 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,638 shares during the period. Centaurus Financial Inc. acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $141,000. Bridgeworth LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $156,000. Flagship Harbor Advisors LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $164,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of WEC Energy Group during the 2nd quarter worth approximately $200,000. Institutional investors and hedge funds own 72.81% of the company’s stock.
In related news, Chairman Gale E. Klappa sold 146,618 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $71.68, for a total value of $10,509,578.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Kevin Fletcher sold 72,455 shares of the stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $70.65, for a total value of $5,118,945.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 319,073 shares of company stock valued at $22,864,524. 0.97% of the stock is owned by corporate insiders.
NYSE WEC opened at $73.77 on Friday. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $74.44. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.34. The firm has a market capitalization of $23.27 billion, a P/E ratio of 23.49, a PEG ratio of 5.05 and a beta of -0.01.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.82%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, sell-side analysts forecast that WEC Energy Group Inc will post 3.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 14th will be paid a $0.59 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, February 13th. WEC Energy Group’s dividend payout ratio is currently 70.38%.
Several brokerages have recently weighed in on WEC. Argus upped their target price on WEC Energy Group from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays upped their target price on WEC Energy Group from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. Wolfe Research downgraded WEC Energy Group from a “market perform” rating to a “sell” rating in a research note on Friday, October 26th. Scotia Howard Weill began coverage on WEC Energy Group in a research note on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 target price for the company. Finally, Howard Weil began coverage on WEC Energy Group in a research note on Tuesday, September 4th. They set a “sector outperform” rating and a $72.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $71.36.
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WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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