Airain ltd Takes Position in WEC Energy Group, Inc. (WEC)
Airain ltd acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,155 shares of the utilities provider’s stock, valued at approximately $2,035,000.
A number of other large investors have also added to or reduced their stakes in the company. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund increased its stake in WEC Energy Group by 18.5% in the second quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund now owns 320,158 shares of the utilities provider’s stock valued at $19,651,000 after buying an additional 50,000 shares during the last quarter. Reilly Herbert Faulkner III increased its stake in WEC Energy Group by 2.8% in the second quarter. Reilly Herbert Faulkner III now owns 74,977 shares of the utilities provider’s stock valued at $4,602,000 after buying an additional 2,052 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in WEC Energy Group during the second quarter valued at approximately $2,383,000. Blue Chip Partners Inc. increased its stake in WEC Energy Group by 1.7% in the second quarter. Blue Chip Partners Inc. now owns 22,748 shares of the utilities provider’s stock valued at $1,396,000 after buying an additional 385 shares during the last quarter. Finally, RFG Advisory Group LLC acquired a new stake in WEC Energy Group during the second quarter valued at approximately $382,000. Institutional investors own 70.76% of the company’s stock.
WEC Energy Group, Inc. (WEC) opened at 65.11 on Thursday. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $65.46. The stock has a market capitalization of $20.55 billion, a PE ratio of 21.35 and a beta of 0.11. The firm has a 50-day moving average price of $63.25 and a 200 day moving average price of $61.46.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The business also recently declared 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. This represents a $2.08 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
Several research firms recently commented on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services lifted their price objective on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.86.
In related news, Director Gale E. Klappa sold 100,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was 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 SEC, which is available at the SEC website. Also, VP Tom Metcalfe sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following the completion of the transaction, the vice president now owns 16,059 shares in the company, valued at approximately $1,034,841.96. The disclosure for this sale can be found here. Insiders sold a total of 177,190 shares of company stock worth $11,445,484 in the last 90 days. 0.97% of the stock is currently owned by 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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