WEC Energy Group, Inc. (WEC) Position Held by Arcadia Investment Management Corp MI
Arcadia Investment Management Corp MI continued to hold its stake in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,800 shares of the utilities provider’s stock at the end of the second quarter. Arcadia Investment Management Corp MI’s holdings in WEC Energy Group were worth $110,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in WEC. Edgemoor Investment Advisors Inc. bought a new stake in WEC Energy Group during the first quarter valued at about $202,000. Shell Asset Management Co. boosted its stake in WEC Energy Group by 7.5% in the first quarter. Shell Asset Management Co. now owns 36,628 shares of the utilities provider’s stock valued at $2,221,000 after buying an additional 2,565 shares during the period. Hennessy Advisors Inc. boosted its stake in WEC Energy Group by 1.6% in the first quarter. Hennessy Advisors Inc. now owns 808,590 shares of the utilities provider’s stock valued at $49,025,000 after buying an additional 13,000 shares during the period. Archford Capital Strategies LLC boosted its stake in WEC Energy Group by 20.4% in the first quarter. Archford Capital Strategies LLC now owns 7,735 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,313 shares during the period. Finally, BlackRock Inc. boosted its stake 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 valued at $1,566,618,000 after buying an additional 25,073,593 shares during the period. 70.78% of the stock is owned by institutional investors.
Shares of WEC Energy Group, Inc. (NYSE:WEC) opened at 64.47 on Wednesday. The stock has a 50 day moving average of $62.56 and a 200 day moving average of $61.11. The company has a market cap of $20.35 billion, a price-to-earnings ratio of 21.14 and a beta of 0.11. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $64.94.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts forecast that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
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WEC has been the subject of several research reports. Barclays PLC reissued an “equal weight” rating and issued a $68.00 price objective (up from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. WEC Energy Group has an average rating of “Hold” and an average price target of $62.86.
In other news, VP Susan H. Martin sold 15,470 shares of the firm’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.
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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