Archford Capital Strategies LLC Has $506,000 Holdings in WEC Energy Group Inc (WEC)
Archford Capital Strategies LLC raised its stake in WEC Energy Group Inc (NYSE:WEC) by 21,627.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,822 shares of the utilities provider’s stock after buying an additional 7,786 shares during the quarter. Archford Capital Strategies LLC’s holdings in WEC Energy Group were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in WEC. Vaughan Nelson Investment Management L.P. acquired a new position in WEC Energy Group in the second quarter valued at about $47,445,000. Virginia Retirement Systems ET AL lifted its stake in WEC Energy Group by 433.9% in the second quarter. Virginia Retirement Systems ET AL now owns 512,500 shares of the utilities provider’s stock valued at $33,133,000 after buying an additional 416,500 shares during the period. BlackRock Inc. lifted its stake in WEC Energy Group by 1.5% in the first quarter. BlackRock Inc. now owns 27,220,620 shares of the utilities provider’s stock valued at $1,706,733,000 after buying an additional 412,950 shares during the period. OLD Republic International Corp lifted its stake in WEC Energy Group by 128.4% in the first quarter. OLD Republic International Corp now owns 715,302 shares of the utilities provider’s stock valued at $44,201,000 after buying an additional 402,151 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its stake in WEC Energy Group by 72.0% in the first quarter. Thompson Siegel & Walmsley LLC now owns 885,191 shares of the utilities provider’s stock valued at $55,501,000 after buying an additional 370,429 shares during the period. 73.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WEC Energy Group stock opened at $68.56 on Friday. WEC Energy Group Inc has a 1 year low of $58.48 and a 1 year high of $70.09. The stock has a market capitalization of $21.75 billion and a price-to-earnings ratio of 21.83. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 0.95.
The firm also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Tuesday, August 14th were issued a $0.5525 dividend. The ex-dividend date of this dividend was Monday, August 13th. This represents a $2.21 annualized dividend and a dividend yield of 3.22%. WEC Energy Group’s dividend payout ratio (DPR) is currently 70.38%.
WEC has been the topic of several analyst reports. Bank of America raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Friday, June 1st. ValuEngine downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. Deutsche Bank increased their price target on WEC Energy Group from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Barclays assumed coverage on WEC Energy Group in a report on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 price target for the company. Finally, Goldman Sachs Group upgraded WEC Energy Group from a “sell” rating to a “neutral” rating in a report on Thursday, July 19th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $68.73.
In related news, Director Barbara L. Bowles sold 2,500 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $66.45, for a total transaction of $166,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederick D. Kuester sold 168,790 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $66.94, for a total value of $11,298,802.60. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.
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.
Further Reading: Leveraged Buyout (LBO)
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