Great West Life Assurance Co. Can Has $20.06 Million Position in WEC Energy Group Inc (WEC)
Great West Life Assurance Co. Can boosted its holdings in WEC Energy Group Inc (NYSE:WEC) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 318,243 shares of the utilities provider’s stock after acquiring an additional 27,624 shares during the quarter. Great West Life Assurance Co. Can owned 0.10% of WEC Energy Group worth $20,060,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cable Hill Partners LLC increased its position in shares of WEC Energy Group by 3,307.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,687 shares during the period. Captrust Financial Advisors acquired a new position in shares of WEC Energy Group during the 2nd quarter valued at $132,000. Sun Life Financial INC increased its position in shares of WEC Energy Group by 23,010.0% during the 2nd quarter. Sun Life Financial INC now owns 2,311 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 2,301 shares during the period. Evercore Wealth Management LLC increased its position in shares of WEC Energy Group by 9.4% during the 2nd quarter. Evercore Wealth Management LLC now owns 2,325 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 200 shares during the period. Finally, BB&T Investment Services Inc. acquired a new position in shares of WEC Energy Group during the 2nd quarter valued at $150,000. Hedge funds and other institutional investors own 72.59% of the company’s stock.
Shares of WEC Energy Group Inc (WEC) traded down $0.35 during midday trading on Friday, hitting $69.14. The company had a trading volume of 1,371,915 shares, compared to its average volume of 1,565,901. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. The firm has a market cap of $21,926.20, a PE ratio of 22.85, a price-to-earnings-growth ratio of 4.21 and a beta of 0.15. WEC Energy Group Inc has a twelve month low of $54.96 and a twelve month high of $70.09.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. sell-side analysts expect that WEC Energy Group Inc will post 3.09 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 14th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Monday, November 13th. WEC Energy Group’s payout ratio is 68.42%.
Several brokerages have recently issued reports on WEC. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Bank of America began coverage on WEC Energy Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price target on the stock. Finally, BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $65.43.
In related news, VP Susan H. Martin sold 15,000 shares of WEC Energy Group stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $66.00, for a total value of $990,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Scott J. Lauber sold 1,240 shares of WEC Energy Group stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The disclosure for this sale can be found here. Insiders sold a total of 68,962 shares of company stock worth $4,735,707 over the last 90 days. Insiders own 0.97% of the company’s stock.
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WEC Energy Group 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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