WEC Energy Group, Inc. (WEC) Stake Maintained by Livforsakringsbolaget Skandia Omsesidigt
Livforsakringsbolaget Skandia Omsesidigt held its position in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,065 shares of the utilities provider’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in WEC Energy Group were worth $372,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont raised its stake in shares of WEC Energy Group by 12.1% in the first quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after buying an additional 187 shares during the last quarter. Cowen Prime Services LLC bought a new stake in shares of WEC Energy Group during the first quarter valued at about $152,000. Ruggie Capital Group bought a new stake in shares of WEC Energy Group during the first quarter valued at about $161,000. Van ECK Associates Corp raised its stake in shares of WEC Energy Group by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,749 shares of the utilities provider’s stock valued at $167,000 after buying an additional 420 shares during the last quarter. Finally, Enterprise Financial Services Corp raised its stake in shares of WEC Energy Group by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 2,822 shares of the utilities provider’s stock valued at $171,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 70.72% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.67% on Tuesday, reaching $64.73. 986,039 shares of the company’s stock were exchanged. WEC Energy Group, Inc. has a one year low of $53.66 and a one year high of $64.76. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 21.22 and a beta of 0.11. The company’s 50 day moving average is $62.45 and its 200-day moving average is $60.79.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the company earned $0.57 EPS. WEC Energy Group’s revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that WEC Energy Group, Inc. will post $3.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
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WEC has been the subject of a number of recent research reports. 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 report on Sunday, April 23rd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. BidaskClub lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Deutsche Bank AG lifted their target price on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $62.86.
In related news, VP Susan H. Martin sold 15,470 shares of the stock in a transaction dated Thursday, May 25th. The stock was 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 SEC, which is accessible through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.
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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