WEC Energy Group Inc (WEC) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund grew its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 697,570 shares of the utilities provider’s stock after buying an additional 9,000 shares during the quarter. New York State Common Retirement Fund owned 0.22% of WEC Energy Group worth $43,793,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Cable Hill Partners LLC raised its position in shares of WEC Energy Group by 3,307.8% during the 3rd quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 1,687 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $132,000. Private Vista LLC acquired a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $136,000. Sun Life Financial INC raised its position in shares of WEC Energy Group by 23,010.0% during the 2nd 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 in the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of WEC Energy Group by 9.4% during the 2nd 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 in the last quarter. Institutional investors own 72.60% of the company’s stock.
In other news, Chairman Gale E. Klappa sold 52,722 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott J. Lauber sold 1,240 shares of the stock in a transaction on 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. Corporate insiders own 0.97% of the company’s stock.
WEC has been the topic of several research reports. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. Bank of America increased their target price on WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 15th. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research report on Friday, September 1st. Credit Suisse Group began coverage on WEC Energy Group in a research report on Thursday. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.00.
Shares of WEC Energy Group Inc (NYSE WEC) traded up $0.30 during midday trading on Friday, reaching $68.72. The company’s stock had a trading volume of 1,293,100 shares, compared to its average volume of 1,642,265. WEC Energy Group Inc has a 1 year low of $55.65 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 firm has a market capitalization of $21,591.68, a price-to-earnings ratio of 22.51, a PEG ratio of 4.15 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. equities research analysts predict that WEC Energy Group Inc will post 3.09 earnings per share for the current 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 $0.5525 dividend. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.52. This represents a $2.21 annualized dividend and a dividend yield of 3.22%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
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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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