Homrich & Berg Buys 855 Shares of WEC Energy Group, Inc. (WEC)
Homrich & Berg increased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,409 shares of the utilities provider’s stock after buying an additional 855 shares during the period. Homrich & Berg’s holdings in WEC Energy Group were worth $578,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in WEC. BlackRock Inc. raised its position in WEC Energy Group by 3,275.9% in the first quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock valued at $1,566,618,000 after buying an additional 25,073,593 shares during the period. Vanguard Group Inc. raised its position in WEC Energy Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock valued at $1,950,302,000 after buying an additional 1,085,646 shares during the period. Renaissance Technologies LLC raised its position in WEC Energy Group by 70.1% in the first quarter. Renaissance Technologies LLC now owns 1,514,902 shares of the utilities provider’s stock valued at $91,849,000 after buying an additional 624,400 shares during the period. Magellan Asset Management Ltd raised its position in WEC Energy Group by 78.7% in the first quarter. Magellan Asset Management Ltd now owns 1,381,464 shares of the utilities provider’s stock valued at $84,000,000 after buying an additional 608,560 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in WEC Energy Group by 216.0% in the first quarter. Canada Pension Plan Investment Board now owns 663,005 shares of the utilities provider’s stock valued at $40,198,000 after buying an additional 453,179 shares during the period. 70.76% of the stock is currently owned by hedge funds and other institutional investors.
WEC Energy Group, Inc. (WEC) opened at 65.26 on Wednesday. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 21.40 and a beta of 0.11. The firm has a 50 day moving average price of $63.25 and a 200-day moving average price of $61.46. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $65.71.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. On average, equities analysts forecast that WEC Energy Group, Inc. will post $3.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders 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 dividend yield of 3.19%. The ex-dividend date is Thursday, August 10th. WEC Energy Group’s dividend payout ratio is presently 68.42%.
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WEC has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Ladenburg Thalmann Financial Services boosted their price target on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 9th. One investment 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. WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $62.86.
In other news, VP Scott J. Lauber sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.00, for a total transaction of $97,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tom Metcalfe sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total value of $644,400.00. Following the sale, the vice president now owns 16,059 shares of the company’s stock, valued at approximately $1,034,841.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,190 shares of company stock valued at $11,445,484. Corporate insiders own 0.97% of the company’s stock.
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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