Investors Buy Shares of WEC Energy Group, Inc. (WEC) on Weakness
Traders bought shares of WEC Energy Group, Inc. (NYSE:WEC) on weakness during trading on Monday. $37.73 million flowed into the stock on the tick-up and $17.21 million flowed out of the stock on the tick-down, for a money net flow of $20.52 million into the stock. Of all companies tracked, WEC Energy Group had the 29th highest net in-flow for the day. WEC Energy Group traded down ($0.59) for the day and closed at $65.48
A number of brokerages have recently commented on WEC. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. 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 note on Monday, June 26th. Finally, Ladenburg Thalmann Financial Services lifted their price target on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.86.
The company’s 50 day moving average price is $64.90 and its 200 day moving average price is $62.28. The stock has a market cap of $20.66 billion, a PE ratio of 21.47 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last announced 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. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 EPS. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.18%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.42%.
In related news, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott J. Lauber sold 1,500 shares of the stock in a transaction dated 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. Insiders have sold a total of 192,190 shares of company stock valued at $12,435,484 over the last 90 days. 0.97% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of WEC. Oakworth Capital Inc. boosted its holdings in WEC Energy Group by 8.8% during the 2nd quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after acquiring an additional 132 shares during the period. Delphi Private Advisors LLC lifted its holdings in WEC Energy Group by 182.3% in the 2nd quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after buying an additional 1,276 shares during the period. Country Trust Bank lifted its holdings in WEC Energy Group by 5.7% in the 2nd quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after buying an additional 112 shares during the period. Captrust Financial Advisors purchased a new stake in WEC Energy Group in the 2nd quarter worth approximately $132,000. Finally, Private Vista LLC purchased a new stake in WEC Energy Group in the 2nd quarter worth approximately $136,000. Institutional investors own 70.24% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This article was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/09/18/investors-buy-shares-of-wec-energy-group-inc-wec-on-weakness.html.
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.
Receive News & Stock Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related stocks with our FREE daily email newsletter.