Duff & Phelps Investment Management Co. Purchases 35,490 Shares of WEC Energy Group Inc. (WEC)
Duff & Phelps Investment Management Co. boosted its stake in WEC Energy Group Inc. (NYSE:WEC) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,142,690 shares of the company’s stock after buying an additional 35,490 shares during the period. WEC Energy Group accounts for approximately 1.8% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 5th largest position. Duff & Phelps Investment Management Co. owned approximately 0.68% of WEC Energy Group worth $128,304,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Management raised its position in WEC Energy Group by 0.3% in the second quarter. Integrated Wealth Management now owns 4,338 shares of the company’s stock worth $283,000 after buying an additional 11 shares during the period. Hudock Capital Group LLC raised its position in WEC Energy Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 4,256 shares of the company’s stock worth $277,000 after buying an additional 16 shares during the period. Gradient Investments LLC raised its position in WEC Energy Group by 0.5% in the third quarter. Gradient Investments LLC now owns 4,216 shares of the company’s stock worth $252,000 after buying an additional 23 shares during the period. WFG Advisors LP raised its position in WEC Energy Group by 0.6% in the second quarter. WFG Advisors LP now owns 4,422 shares of the company’s stock worth $289,000 after buying an additional 27 shares during the period. Finally, Personal Capital Advisors Corp raised its position in WEC Energy Group by 1.4% in the second quarter. Personal Capital Advisors Corp now owns 3,627 shares of the company’s stock worth $237,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 68.70% of the company’s stock.
Shares of WEC Energy Group Inc. (NYSE:WEC) opened at 58.04 on Tuesday. The firm has a market cap of $18.32 billion, a PE ratio of 19.92 and a beta of 0.06. The stock’s 50 day moving average price is $57.28 and its 200-day moving average price is $60.69. WEC Energy Group Inc. has a 52-week low of $47.98 and a 52-week high of $66.10.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The business earned $1.71 billion during the quarter, compared to the consensus estimate of $2.15 billion. WEC Energy Group had a return on equity of 10.76% and a net margin of 12.58%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. On average, equities research analysts anticipate that WEC Energy Group Inc. will post $2.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be issued a dividend of $0.495 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.41%. WEC Energy Group’s payout ratio is 68.04%.
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A number of research firms recently issued reports on WEC. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Wednesday, November 9th. Guggenheim assumed coverage on WEC Energy Group in a research note on Thursday, November 3rd. They issued a “buy” rating and a $63.00 price target on the stock. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Wednesday, October 19th. Finally, Argus restated a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of WEC Energy Group in a research note on Tuesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $61.78.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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