WEC Energy Group, Inc. (WEC) Hits New 1-Year High at $64.91
WEC Energy Group, Inc. (NYSE:WEC) hit a new 52-week high on Thursday . The stock traded as high as $64.91 and last traded at $64.89, with a volume of 2,158,302 shares changing hands. The stock had previously closed at $63.95.
Several brokerages recently weighed in on WEC. Zacks Investment Research cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Monday, April 17th. Ladenburg Thalmann Financial Services increased their target price on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, June 9th. BidaskClub cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Barclays PLC restated an “equal weight” rating and set a $68.00 target price (up from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $62.86.
The firm has a market capitalization of $20.41 billion, a price-to-earnings ratio of 21.20 and a beta of 0.11. The company’s 50-day moving average price is $62.49 and its 200-day moving average price is $60.92.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. WEC Energy Group’s quarterly revenue 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 research analysts forecast that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.
In other news, VP Susan H. Martin sold 15,470 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $62.50, for a total transaction of $966,875.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. SVA Plumb Wealth Management LLC raised its stake in WEC Energy Group by 20.6% in the second quarter. SVA Plumb Wealth Management LLC now owns 4,461 shares of the utilities provider’s stock valued at $274,000 after buying an additional 761 shares during the last quarter. Summit Global Investments raised its stake in WEC Energy Group by 4.7% in the second quarter. Summit Global Investments now owns 45,384 shares of the utilities provider’s stock valued at $2,786,000 after buying an additional 2,034 shares during the last quarter. Coastline Trust Co raised its stake in WEC Energy Group by 3.8% in the second quarter. Coastline Trust Co now owns 9,633 shares of the utilities provider’s stock valued at $591,000 after buying an additional 354 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in WEC Energy Group by 39.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,841 shares of the utilities provider’s stock valued at $420,000 after buying an additional 1,933 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in WEC Energy Group during the second quarter valued at about $1,160,000. 70.72% of the stock is currently owned by hedge funds and other institutional investors.
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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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