WEC Energy Group, Inc. (WEC) Shares Sold by Stifel Financial Corp
Stifel Financial Corp lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 262,134 shares of the utilities provider’s stock after selling 871 shares during the quarter. Stifel Financial Corp owned 0.08% of WEC Energy Group worth $16,009,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of WEC. BlackRock Inc. boosted its holdings in shares of WEC Energy Group by 3,275.9% in the 1st quarter. BlackRock Inc. now owns 25,838,999 shares of the utilities provider’s stock valued at $1,566,618,000 after purchasing an additional 25,073,593 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of WEC Energy Group by 362.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock valued at $134,737,000 after purchasing an additional 1,719,955 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of WEC Energy Group by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 32,167,258 shares of the utilities provider’s stock valued at $1,950,302,000 after purchasing an additional 1,085,646 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of WEC Energy Group by 70.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,514,902 shares of the utilities provider’s stock valued at $91,849,000 after purchasing an additional 624,400 shares in the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in shares of WEC Energy Group by 78.7% in the 1st quarter. Magellan Asset Management Ltd now owns 1,381,464 shares of the utilities provider’s stock valued at $84,000,000 after purchasing an additional 608,560 shares in the last quarter. 70.24% of the stock is currently owned by hedge funds and other institutional investors.
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WEC has been the topic of a number of research analyst reports. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Ladenburg Thalmann Financial Services raised their target price on WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a report 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 issued a buy rating to the company’s stock. WEC Energy Group has an average rating of “Hold” and a consensus target price of $62.86.
WEC Energy Group, Inc. (WEC) traded down 0.60% during midday trading on Friday, hitting $62.78. The company had a trading volume of 1,837,867 shares. The firm has a market capitalization of $19.81 billion, a P/E ratio of 20.58 and a beta of 0.12. The firm’s 50 day moving average is $64.96 and its 200-day moving average is $62.33. 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 released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.31%. WEC Energy Group’s payout ratio is currently 68.42%.
In other news, VP Scott J. Lauber sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total value of $97,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Susan H. Martin sold 15,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $66.00, for a total transaction of $990,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,190 shares of company stock worth $12,435,484. Insiders own 0.97% of the company’s stock.
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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