WEC Energy Group, Inc. (WEC) Holdings Lifted by Axa
Axa boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,656 shares of the utilities provider’s stock after purchasing an additional 1,600 shares during the quarter. Axa’s holdings in WEC Energy Group were worth $3,355,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Edgestream Partners L.P. boosted its stake in WEC Energy Group by 11.2% in the 2nd quarter. Edgestream Partners L.P. now owns 23,419 shares of the utilities provider’s stock worth $1,437,000 after purchasing an additional 2,351 shares during the period. Franklin Resources Inc. boosted its stake in WEC Energy Group by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,176,267 shares of the utilities provider’s stock worth $133,579,000 after purchasing an additional 33,394 shares during the period. Eaton Vance Management boosted its stake in WEC Energy Group by 0.5% in the 2nd quarter. Eaton Vance Management now owns 12,090 shares of the utilities provider’s stock worth $742,000 after purchasing an additional 65 shares during the period. CIBC World Markets Inc. bought a new position in WEC Energy Group in the 2nd quarter worth approximately $2,518,000. Finally, Rathbone Brothers plc boosted its stake in WEC Energy Group by 25.1% in the 2nd quarter. Rathbone Brothers plc now owns 562,955 shares of the utilities provider’s stock worth $34,554,000 after purchasing an additional 112,955 shares during the period. Institutional investors and hedge funds own 70.24% of the company’s stock.
In related news, 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 transaction of $644,400.00. Following the completion of the sale, the vice president now directly owns 16,059 shares in the company, valued at $1,034,841.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the business’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 disclosure for this sale can be found here. Insiders have sold 192,190 shares of company stock valued at $12,435,484 over the last quarter. 0.97% of the stock is owned by company insiders.
Several research firms have weighed in on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Ladenburg Thalmann Financial Services upped their price target on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. BidaskClub downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price target (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Finally, KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.86.
WEC Energy Group, Inc. (NYSE WEC) opened at 65.48 on Tuesday. The stock’s 50 day moving average price is $64.90 and its 200-day moving average price is $62.28. The company has a market capitalization of $20.66 billion, a P/E ratio of 21.47 and a beta of 0.12. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $67.20.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, August 10th. WEC Energy Group’s payout ratio is 68.42%.
WEC Energy Group 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.
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC).
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.