QUANTRES ASSET MANAGEMENT Ltd Cuts Stake in WEC Energy Group Inc (WEC)
QUANTRES ASSET MANAGEMENT Ltd lessened its stake in WEC Energy Group Inc (NYSE:WEC) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,700 shares of the utilities provider’s stock after selling 1,300 shares during the period. QUANTRES ASSET MANAGEMENT Ltd’s holdings in WEC Energy Group were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cable Hill Partners LLC grew its stake 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 valued at $109,000 after purchasing an additional 1,687 shares during the last quarter. Captrust Financial Advisors purchased a new position in WEC Energy Group in the second quarter valued at about $132,000. Sun Life Financial INC grew its stake in WEC Energy Group by 23,010.0% in the second 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 last quarter. Evercore Wealth Management LLC grew its stake in WEC Energy Group by 9.4% in the second 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 last quarter. Finally, BB&T Investment Services Inc. purchased a new position in WEC Energy Group in the second quarter valued at about $150,000. Institutional investors own 72.59% of the company’s stock.
In other news, Chairman Gale E. Klappa sold 52,722 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total transaction of $3,658,906.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Scott J. Lauber sold 1,240 shares of the business’s stock in a transaction dated 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. 0.97% of the stock is currently owned by insiders.
WEC has been the topic of several analyst reports. Credit Suisse Group initiated coverage on WEC Energy Group in a research note on Thursday, December 7th. They issued a “neutral” rating and a $70.00 target price on the stock. Bank of America lifted their target price on WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research note on Friday, October 20th. Finally, Guggenheim reiterated a “buy” rating and issued a $73.00 target price on shares of WEC Energy Group in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.78.
Shares of WEC Energy Group Inc (NYSE:WEC) opened at $64.87 on Friday. WEC Energy Group Inc has a 52 week low of $56.05 and a 52 week high of $70.09. The firm has a market capitalization of $20,470.00, a PE ratio of 21.34, a PEG ratio of 3.66 and a beta of 0.15. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96.
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. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. research analysts forecast that WEC Energy Group Inc will post 3.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 14th will be paid a dividend of $0.5525 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.41%. WEC Energy Group’s payout ratio is presently 68.42%.
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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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