UMB Bank N A MO raised its position in WEC Energy Group Inc. (NYSE:WEC) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,762 shares of the company’s stock after buying an additional 687 shares during the period. UMB Bank N A MO’s holdings in WEC Energy Group were worth $442,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. State Street Corp increased 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 in the last quarter. Bank of Montreal Can purchased a new stake in WEC Energy Group during the second quarter worth about $38,722,000. BlackRock Fund Advisors increased its stake in 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 in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in WEC Energy Group during the first quarter worth about $28,815,000. Finally, Duff & Phelps Investment Management Co. increased its stake in WEC Energy Group by 16.4% in the first quarter. Duff & Phelps Investment Management Co. now owns 2,108,315 shares of the company’s stock worth $126,646,000 after buying an additional 297,785 shares in the last quarter. Institutional investors and hedge funds own 70.65% of the company’s stock.
WEC Energy Group Inc. (NYSE:WEC) traded down 0.60% during trading on Wednesday, reaching $61.31. The company had a trading volume of 1,626,724 shares. The firm has a market capitalization of $19.35 billion, a P/E ratio of 21.89 and a beta of 0.10. The firm’s 50-day moving average price is $61.08 and its 200 day moving average price is $61.08. WEC Energy Group Inc. has a one year low of $47.98 and a one year high of $66.10.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $2.03 billion. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The firm’s quarterly revenue was up 61.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. Equities analysts forecast that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a $0.495 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.98 annualized dividend and a yield of 3.23%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.46%.
WEC has been the subject of a number of recent research reports. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Argus reissued a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.25.
In related news, EVP Robert M. Garvin sold 19,225 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was 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 directly owns 27,710 shares of the company’s stock, valued at approximately $1,707,490.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan H. Martin sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.05, for a total value of $2,602,000.00. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate 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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