Harvest Capital Management Inc Has $644,000 Stake in WEC Energy Group, Inc. (NYSE:WEC)
Harvest Capital Management Inc maintained its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,484 shares of the utilities provider’s stock at the end of the second quarter. Harvest Capital Management Inc’s holdings in WEC Energy Group were worth $644,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Edgemoor Investment Advisors Inc. bought a new position in WEC Energy Group during the first quarter valued at $202,000. Shell Asset Management Co. increased its position in WEC Energy Group by 7.5% in the first quarter. Shell Asset Management Co. now owns 36,628 shares of the utilities provider’s stock valued at $2,221,000 after buying an additional 2,565 shares during the period. Hennessy Advisors Inc. increased its position in WEC Energy Group by 1.6% in the first quarter. Hennessy Advisors Inc. now owns 808,590 shares of the utilities provider’s stock valued at $49,025,000 after buying an additional 13,000 shares during the period. Archford Capital Strategies LLC increased its position in WEC Energy Group by 20.4% in the first quarter. Archford Capital Strategies LLC now owns 7,735 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,313 shares during the period. Finally, Advisor Partners LLC increased its position in WEC Energy Group by 22.1% in the first quarter. Advisor Partners LLC now owns 6,705 shares of the utilities provider’s stock valued at $407,000 after buying an additional 1,215 shares during the period. 70.83% of the stock is owned by institutional investors.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded down 0.03% during midday trading on Friday, reaching $64.09. The company’s stock had a trading volume of 1,128,982 shares. The stock has a market capitalization of $20.23 billion, a PE ratio of 21.01 and a beta of 0.11. The company has a 50 day moving average price of $62.43 and a 200-day moving average price of $60.72. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.65.
WEC Energy Group (NYSE:WEC) last released its quarterly 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. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.11 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
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Several research firms recently weighed in on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, April 10th. Ladenburg Thalmann Financial Services boosted their price objective on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, June 9th. BidaskClub downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Barclays PLC restated an “equal weight” rating and issued a $68.00 price objective (up from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Finally, Wolfe Research restated a “peer perform” rating on shares of WEC Energy Group in a research report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $62.86.
In related news, VP Susan H. Martin sold 15,470 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total transaction of $966,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tom Metcalfe sold 7,935 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $61.30, for a total transaction of $486,415.50. Following the sale, the vice president now directly owns 13,994 shares of the company’s stock, valued at $857,832.20. The disclosure for this sale can be found here. 0.97% of the stock is currently owned by company insiders.
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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