Great Lakes Advisors LLC lifted its position in shares of WEC Energy Group (NYSE:WEC) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,119 shares of the utilities provider’s stock after acquiring an additional 2,458 shares during the period. Great Lakes Advisors LLC’s holdings in WEC Energy Group were worth $2,077,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. State of Wisconsin Investment Board grew its stake in WEC Energy Group by 34.7% during the 1st quarter. State of Wisconsin Investment Board now owns 311,085 shares of the utilities provider’s stock worth $19,505,000 after buying an additional 80,137 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in WEC Energy Group by 24.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 316,604 shares of the utilities provider’s stock worth $19,853,000 after buying an additional 62,090 shares during the last quarter. Warren Averett Asset Management LLC grew its stake in WEC Energy Group by 952.6% during the 1st quarter. Warren Averett Asset Management LLC now owns 3,484 shares of the utilities provider’s stock worth $218,000 after buying an additional 3,153 shares during the last quarter. D.A. Davidson & CO. grew its stake in WEC Energy Group by 5.4% during the 1st quarter. D.A. Davidson & CO. now owns 23,699 shares of the utilities provider’s stock worth $1,486,000 after buying an additional 1,204 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in WEC Energy Group by 5.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,700,975 shares of the utilities provider’s stock worth $106,650,000 after buying an additional 83,765 shares during the last quarter. 73.26% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Barbara L. Bowles sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $64.45, for a total value of $103,120.00. The disclosure for this sale can be found here. Company insiders own 0.94% of the company’s stock.
A number of research analysts recently commented on WEC shares. Zacks Investment Research downgraded WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research note on Sunday, January 21st. Wells Fargo lowered their price objective on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a research note on Thursday, February 1st. UBS initiated coverage on WEC Energy Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $65.00 price target for the company. Credit Suisse Group reissued a “neutral” rating and issued a $63.00 price target (down previously from $65.00) on shares of WEC Energy Group in a research note on Friday, February 23rd. Finally, Guggenheim reissued a “buy” rating and issued a $66.00 price target on shares of WEC Energy Group in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $66.00.
WEC Energy Group opened at $61.32 on Wednesday, Marketbeat.com reports. WEC Energy Group has a 1 year low of $60.93 and a 1 year high of $61.73. The firm has a market capitalization of $19.53 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 4.54 and a beta of 0.06. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 0.89.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. WEC Energy Group had a return on equity of 11.01% and a net margin of 16.23%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. sell-side analysts predict that WEC Energy Group will post 3.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 14th will be paid a $0.5525 dividend. The ex-dividend date is Friday, May 11th. This represents a $2.21 annualized dividend and a dividend yield of 3.60%. WEC Energy Group’s payout ratio is 70.38%.
About WEC Energy Group
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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