WEC Energy Group, Inc. (WEC) Shares Sold by Geneva Advisors LLC
Geneva Advisors LLC decreased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,461 shares of the utilities provider’s stock after selling 2,787 shares during the period. Geneva Advisors LLC’s holdings in WEC Energy Group were worth $2,177,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Stanley Laman Group Ltd. bought a new stake in WEC Energy Group during the second quarter valued at $2,383,000. Blue Chip Partners Inc. increased its stake in WEC Energy Group by 1.7% in the second quarter. Blue Chip Partners Inc. now owns 22,748 shares of the utilities provider’s stock valued at $1,396,000 after buying an additional 385 shares in the last quarter. RFG Advisory Group LLC bought a new stake in WEC Energy Group during the second quarter valued at $382,000. Victory Capital Management Inc. increased its stake in WEC Energy Group by 2.8% in the second quarter. Victory Capital Management Inc. now owns 704,317 shares of the utilities provider’s stock valued at $43,231,000 after buying an additional 19,492 shares in the last quarter. Finally, MAI Capital Management increased its stake in WEC Energy Group by 1.1% in the second quarter. MAI Capital Management now owns 4,210 shares of the utilities provider’s stock valued at $258,000 after buying an additional 45 shares in the last quarter. 70.78% of the stock is owned by hedge funds and other institutional investors.
WEC Energy Group, Inc. (NYSE:WEC) opened at 65.10 on Friday. The company has a market cap of $20.54 billion, a P/E ratio of 21.34 and a beta of 0.11. The company has a 50-day moving average of $63.25 and a 200-day moving average of $61.46. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $65.47.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that WEC Energy Group, Inc. will post $3.11 EPS for the current year.
The business 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 $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 annualized dividend and a yield of 3.20%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
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Several analysts have recently weighed in on the stock. BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $58.00 price objective (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Ladenburg Thalmann Financial Services boosted their price objective on shares of WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. 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 a consensus price target of $62.86.
In related news, VP Tom Metcalfe sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total value of $644,400.00. Following the sale, the vice president now directly owns 16,059 shares of the company’s stock, valued at $1,034,841.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 100,500 shares of the company’s stock in a transaction 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 sold 177,190 shares of company stock worth $11,445,484 over the last ninety days. 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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