WEC Energy Group Inc (WEC) Shares Bought by California Public Employees Retirement System
California Public Employees Retirement System lifted its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 4.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 828,364 shares of the utilities provider’s stock after acquiring an additional 32,145 shares during the period. California Public Employees Retirement System owned approximately 0.26% of WEC Energy Group worth $52,005,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cable Hill Partners LLC lifted 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 worth $109,000 after purchasing an additional 1,687 shares during the last quarter. Captrust Financial Advisors bought a new stake in WEC Energy Group in the second quarter worth $132,000. Sun Life Financial INC increased its position in shares of 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 acquiring an additional 2,301 shares during the period. Evercore Wealth Management LLC increased its position in shares of 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 acquiring an additional 200 shares during the period. Finally, BB&T Investment Services Inc. purchased a new position in shares of WEC Energy Group in the second quarter valued at about $150,000. 72.60% of the stock is owned by institutional investors.
WEC has been the topic of a number of analyst reports. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Friday, October 27th. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research report on Friday, October 20th. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, December 7th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $66.00.
WEC Energy Group Inc (NYSE:WEC) traded down $0.21 during trading hours on Friday, reaching $67.70. 1,070,100 shares of the company traded hands, compared to its average volume of 1,647,236. WEC Energy Group Inc has a 1-year low of $56.05 and a 1-year high of $70.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.60 and a quick ratio of 0.38. The company has a market capitalization of $21,430.74, a price-to-earnings ratio of 22.34, a P/E/G ratio of 4.03 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. 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 posted $0.69 earnings per share. WEC Energy Group’s quarterly revenue was down 3.2% on a year-over-year basis. analysts anticipate that WEC Energy Group Inc will post 3.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be paid a dividend of $0.5525 per share. The ex-dividend date is Tuesday, February 13th. This represents a $2.21 annualized dividend and a yield of 3.26%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. 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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