HL Financial Services LLC Has $771,000 Position in WEC Energy Group, Inc. (NYSE:WEC)
HL Financial Services LLC increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,564 shares of the utilities provider’s stock after buying an additional 1,676 shares during the period. HL Financial Services LLC’s holdings in WEC Energy Group were worth $771,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in WEC Energy Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock worth $1,950,302,000 after buying an additional 1,085,646 shares during the period. BlackRock Inc. increased its position in WEC Energy Group by 3,275.9% in the first quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock worth $1,566,618,000 after buying an additional 25,073,593 shares during the period. State Street Corp increased its position in WEC Energy Group by 1.2% in the first quarter. State Street Corp now owns 16,286,113 shares of the utilities provider’s stock worth $987,428,000 after buying an additional 200,586 shares during the period. Bank of America Corp DE increased its position in WEC Energy Group by 6.2% in the first quarter. Bank of America Corp DE now owns 5,169,348 shares of the utilities provider’s stock worth $313,418,000 after buying an additional 304,020 shares during the period. Finally, Clearbridge Investments LLC increased its position in WEC Energy Group by 1.8% in the first quarter. Clearbridge Investments LLC now owns 4,970,352 shares of the utilities provider’s stock worth $301,352,000 after buying an additional 89,046 shares during the period. 70.72% of the stock is currently owned by institutional investors.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 63.84 on Friday. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.94. The company’s 50-day moving average price is $62.52 and its 200 day moving average price is $60.98. The firm has a market cap of $20.15 billion, a P/E ratio of 20.93 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. WEC Energy Group’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, equities analysts anticipate that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.26%. WEC Energy Group’s payout ratio is 68.42%.
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A number of research analysts have recently weighed in on WEC shares. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 price objective (up previously from $61.00) on shares of WEC Energy Group in a research note on Sunday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $62.86.
In related news, VP Susan H. Martin sold 15,470 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total value of $966,875.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.97% of the stock is owned by insiders.
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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