Artemis Investment Management LLP Raises Position in WEC Energy Group, Inc. (WEC)
Artemis Investment Management LLP grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271,145 shares of the utilities provider’s stock after purchasing an additional 19,786 shares during the quarter. Artemis Investment Management LLP owned about 0.09% of WEC Energy Group worth $17,024,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WEC. Oakworth Capital Inc. grew its holdings in WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 132 shares during the last quarter. Cable Hill Partners LLC grew its holdings in WEC Energy Group by 3,307.8% in the third quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,687 shares during the last quarter. Delphi Private Advisors LLC grew its holdings in WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 1,276 shares during the last quarter. Country Trust Bank grew its holdings in WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 112 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in WEC Energy Group in the second quarter worth $132,000. 70.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Scott J. Lauber sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,190 shares of company stock valued at $12,435,484. 0.97% of the stock is owned by company insiders.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. WEC Energy Group’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, November 13th. WEC Energy Group’s dividend payout ratio is currently 68.42%.
Several research firms have issued reports on WEC. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, October 27th. Bank of America Corporation began coverage on shares of WEC Energy Group in a research note on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price objective for the company. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. Finally, BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $64.63.
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WEC Energy Group Company 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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