WEC Energy Group, Inc. (WEC) Stake Raised by Marshall Wace North America L.P.
Marshall Wace North America L.P. boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 493.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,675 shares of the utilities provider’s stock after buying an additional 47,955 shares during the period. Marshall Wace North America L.P.’s holdings in WEC Energy Group were worth $3,518,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in WEC. Edgemoor Investment Advisors Inc. purchased a new stake in WEC Energy Group during the first quarter valued at about $202,000. Archford Capital Strategies LLC boosted its stake 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. BlackRock Inc. boosted its stake 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. Advisor Partners LLC boosted its stake 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. Finally, Advisors Asset Management Inc. boosted its stake in WEC Energy Group by 5.7% in the second quarter. Advisors Asset Management Inc. now owns 182,628 shares of the utilities provider’s stock valued at $11,210,000 after buying an additional 9,799 shares during the period. 70.76% of the stock is owned by institutional investors and hedge funds.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 65.13 on Friday. The stock has a market capitalization of $20.55 billion, a PE ratio of 21.35 and a beta of 0.12. The company has a 50-day moving average of $63.84 and a 200-day moving average of $61.72. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $65.65.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate 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 firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.10 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.19%. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.
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Several equities research analysts have recently issued reports on WEC shares. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Ladenburg Thalmann Financial Services lifted 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 report on Friday, June 9th. Finally, KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $62.86.
In other WEC Energy Group news, Director Gale E. Klappa sold 12,632 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $65.04, for a total transaction of $821,585.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Tom Metcalfe sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $64.44, for a total transaction of $644,400.00. Following the transaction, the vice president now owns 16,059 shares in the company, valued at $1,034,841.96. The disclosure for this sale can be found here. Insiders have sold a total of 177,190 shares of company stock worth $11,445,484 over the last quarter. 0.97% of the stock is currently owned by 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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