Bartlett & Co. LLC decreased its position in WEC Energy Group Inc. (NYSE:WEC) by 3.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 123,223 shares of the company’s stock after selling 4,271 shares during the period. Bartlett & Co. LLC’s holdings in WEC Energy Group were worth $8,046,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in WEC Energy Group by 7.3% in the first quarter. State Street Corp now owns 15,271,745 shares of the company’s stock worth $917,370,000 after buying an additional 1,042,287 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of WEC Energy Group by 6.7% in the first quarter. BlackRock Fund Advisors now owns 9,306,065 shares of the company’s stock worth $559,015,000 after buying an additional 582,271 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of WEC Energy Group by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 8,628,244 shares of the company’s stock worth $518,299,000 after buying an additional 29,247 shares during the period. BlackRock Group LTD raised its position in shares of WEC Energy Group by 1.4% in the first quarter. BlackRock Group LTD now owns 2,825,754 shares of the company’s stock worth $169,742,000 after buying an additional 38,780 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of WEC Energy Group by 1.6% in the first quarter. Geode Capital Management LLC now owns 2,651,526 shares of the company’s stock worth $158,966,000 after buying an additional 40,743 shares during the period. 70.65% of the stock is currently owned by hedge funds and other institutional investors.
WEC Energy Group Inc. (NYSE:WEC) traded down 1.72% during trading on Tuesday, reaching $61.68. 1,760,645 shares of the company traded hands. The firm’s 50 day moving average price is $61.14 and its 200 day moving average price is $61.05. The firm has a market capitalization of $19.47 billion, a price-to-earnings ratio of 22.02 and a beta of 0.10. WEC Energy Group Inc. has a 12-month low of $47.98 and a 12-month high of $66.10.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. WEC Energy Group had a net margin of 12.13% and a return on equity of 10.52%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $0.58 EPS. The business’s revenue for the quarter was up 61.7% compared to the same quarter last year. Equities research analysts expect that WEC Energy Group Inc. will post $2.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Wednesday, August 10th. WEC Energy Group’s payout ratio is 70.46%.
A number of equities analysts have recently commented on WEC shares. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, September 16th. Argus reiterated a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $58.25.
In other news, EVP Robert M. Garvin sold 19,225 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $61.62, for a total value of $1,184,644.50. Following the transaction, the executive vice president now owns 27,710 shares of the company’s stock, valued at approximately $1,707,490.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Susan H. Martin sold 40,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $65.05, for a total transaction of $2,602,000.00. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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