WEC Energy Group, Inc. (WEC) Position Lowered by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,345 shares of the utilities provider’s stock after selling 1,951 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in WEC Energy Group were worth $2,476,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Oakworth Capital Inc. raised its position in shares of WEC Energy Group by 8.8% in the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock worth $100,000 after buying an additional 132 shares during the last quarter. Trust Co. of Vermont raised its position in shares of WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock worth $106,000 after buying an additional 187 shares during the last quarter. Delphi Private Advisors LLC raised its position in shares of WEC Energy Group by 182.3% in the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after buying an additional 1,276 shares during the last quarter. Country Trust Bank raised its position in shares of WEC Energy Group by 5.7% in the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after buying an additional 112 shares during the last quarter. Finally, Private Vista LLC purchased a new position in shares of WEC Energy Group during the second quarter worth $136,000. Hedge funds and other institutional investors own 70.76% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 65.11 on Thursday. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $65.46. The company’s 50 day moving average price is $63.25 and its 200-day moving average price is $61.46. The firm has a market capitalization of $20.55 billion, a P/E ratio of 21.35 and a beta of 0.11.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data 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 analysts’ expectations of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. On average, equities analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.19%. WEC Energy Group’s dividend payout ratio (DPR) is currently 68.42%.
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A number of research analysts have weighed in on the company. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 target price (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services raised their target price on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $62.86.
In related news, VP Scott J. Lauber sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.00, for a total transaction of $97,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gale E. Klappa sold 12,632 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $65.04, for a total value of $821,585.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,190 shares of company stock worth $11,445,484. Corporate 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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