WEC Energy Group, Inc. (WEC) Shares Bought by Veritable L.P.
Veritable L.P. increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,417 shares of the utilities provider’s stock after purchasing an additional 199 shares during the period. Veritable L.P.’s holdings in WEC Energy Group were worth $701,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. OxFORD Asset Management LLP bought a new position in WEC Energy Group during the second quarter worth about $4,453,000. Evercore Wealth Management LLC grew its holdings in WEC Energy Group by 9.4% during the second quarter. Evercore Wealth Management LLC now owns 2,325 shares of the utilities provider’s stock worth $143,000 after purchasing an additional 200 shares during the period. Epoch Investment Partners Inc. grew its holdings in WEC Energy Group by 8.6% during the second quarter. Epoch Investment Partners Inc. now owns 6,212,698 shares of the utilities provider’s stock worth $381,336,000 after purchasing an additional 492,379 shares during the period. Dimensional Fund Advisors LP grew its holdings in WEC Energy Group by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 717,360 shares of the utilities provider’s stock worth $44,032,000 after purchasing an additional 7,741 shares during the period. Finally, Virtu KCG Holdings LLC bought a new position in WEC Energy Group during the second quarter worth about $235,000. Institutional investors and hedge funds own 70.24% of the company’s stock.
A number of research firms recently commented on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Ladenburg Thalmann Financial Services lifted their price target on WEC Energy Group from $62.00 to $65.00 and gave the stock 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. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Finally, KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.86.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 62.78 on Friday. WEC Energy Group, Inc. has a one year low of $53.66 and a one year high of $67.20. The stock’s 50 day moving average price is $64.96 and its 200-day moving average price is $62.33. The company has a market cap of $19.81 billion, a PE ratio of 20.58 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, analysts expect that WEC Energy Group, Inc. will post $3.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Thursday, August 10th. WEC Energy Group’s dividend payout ratio is currently 68.42%.
In other news, VP Susan H. Martin sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total transaction of $990,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Insiders have sold a total of 192,190 shares of company stock valued at $12,435,484 over the last three months. Insiders own 0.97% of the company’s stock.
WEC Energy Group 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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