Principal Financial Group Inc. boosted its stake in WEC Energy Group Inc. (NYSE:WEC) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,280 shares of the company’s stock after buying an additional 3,158 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of WEC Energy Group worth $29,991,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of WEC. NN Investment Partners Holdings N.V. bought a new position in shares of WEC Energy Group during the first quarter worth $109,000. Financial Architects Inc increased its position in shares of WEC Energy Group by 240.3% in the second quarter. Financial Architects Inc now owns 2,130 shares of the company’s stock worth $139,000 after buying an additional 1,504 shares during the period. TLP Group LLC bought a new position in shares of WEC Energy Group during the second quarter worth $172,000. BLB&B Advisors LLC bought a new position in shares of WEC Energy Group during the second quarter worth $200,000. Finally, ProVise Management Group LLC bought a new position in shares of WEC Energy Group during the second quarter worth $201,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Shares of WEC Energy Group Inc. (NYSE:WEC) opened at 62.97 on Friday. The stock has a market capitalization of $19.87 billion, a P/E ratio of 22.48 and a beta of 0.10. The stock has a 50 day moving average of $61.13 and a 200-day moving average of $60.97. 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 issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The firm earned $1.60 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.58 earnings per share. The company’s revenue was up 61.7% on a year-over-year basis. Equities analysts forecast 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 dividend of $0.495 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.98 annualized dividend and a dividend yield of 3.14%. WEC Energy Group’s payout ratio is presently 70.46%.
WEC has been the topic of a number of research analyst reports. Argus reissued a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and a consensus price target of $58.25.
In other news, EVP Robert M. Garvin sold 19,225 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $61.62, for a total transaction of $1,184,644.50. Following the completion of the transaction, the executive vice president now directly owns 27,710 shares in the company, valued at $1,707,490.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Susan H. Martin sold 40,000 shares of the firm’s stock in a transaction 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. Insiders own 0.81% of the company’s stock.
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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.