Cincinnati Casualty Co. Has $1,903,000 Position in WEC Energy Group, Inc. (WEC)
Cincinnati Casualty Co. continued to hold its stake in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, according to its most recent filing with the SEC. The fund owned 31,000 shares of the utilities provider’s stock at the end of the second quarter. WEC Energy Group makes up about 1.7% of Cincinnati Casualty Co.’s investment portfolio, making the stock its 18th largest position. Cincinnati Casualty Co.’s holdings in WEC Energy Group were worth $1,903,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of WEC. Retirement Systems of Alabama raised its stake in WEC Energy Group by 2.0% in the first quarter. Retirement Systems of Alabama now owns 152,548 shares of the utilities provider’s stock valued at $9,249,000 after buying an additional 2,953 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in WEC Energy Group by 20.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 20,953 shares of the utilities provider’s stock valued at $1,270,000 after buying an additional 3,594 shares during the last quarter. Nationwide Fund Advisors raised its stake in WEC Energy Group by 0.5% in the first quarter. Nationwide Fund Advisors now owns 163,373 shares of the utilities provider’s stock valued at $9,905,000 after buying an additional 827 shares during the last quarter. Sigma Planning Corp purchased a new stake in WEC Energy Group during the first quarter valued at about $220,000. Finally, Shell Asset Management Co. raised its stake 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 last quarter. Hedge funds and other institutional investors own 70.76% of the company’s stock.
WEC Energy Group, Inc. (NYSE WEC) opened at 65.10 on Monday. The firm’s 50-day moving average is $63.25 and its 200-day moving average is $61.46. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 21.34 and a beta of 0.11. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $65.46.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the 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 company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.57 earnings per share. WEC Energy Group’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, analysts anticipate that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, August 10th. WEC Energy Group’s payout ratio is currently 68.42%.
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Several equities analysts recently weighed in on the stock. Ladenburg Thalmann Financial Services increased their price target on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, June 9th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Finally, BidaskClub lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $62.86.
In other WEC Energy Group news, Director Gale E. Klappa sold 100,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total value of $6,474,210.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott J. Lauber sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,190 shares of company stock worth $11,445,484. 0.97% of the stock is owned by corporate 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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