Wellington Shields Capital Management LLC held its position in WEC Energy Group, Inc. (NYSE:WEC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,845 shares of the utilities provider’s stock at the end of the first quarter. Wellington Shields Capital Management LLC’s holdings in WEC Energy Group were worth $597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Northwest Quadrant Wealth Management LLC bought a new position in WEC Energy Group during the fourth quarter worth $103,000. NN Investment Partners Holdings N.V. increased its position in WEC Energy Group by 22.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,221 shares of the utilities provider’s stock worth $130,000 after buying an additional 400 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in WEC Energy Group during the fourth quarter worth $135,000. First Command Bank bought a new position in WEC Energy Group during the fourth quarter worth $136,000. Finally, Van ECK Associates Corp increased its position in WEC Energy Group by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 2,329 shares of the utilities provider’s stock worth $137,000 after buying an additional 461 shares during the period. 70.86% of the stock is currently owned by institutional investors.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.55% during midday trading on Friday, reaching $64.23. 2,648,879 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $61.99 and a 200 day moving average price of $59.69. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $66.10. The firm has a market cap of $20.27 billion, a PE ratio of 21.48 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.42 billion. WEC Energy Group had a net margin of 12.54% and a return on equity of 10.65%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 earnings per share. Equities research analysts predict that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.24%. WEC Energy Group’s payout ratio is currently 69.80%.
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Several brokerages recently commented on WEC. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Ladenburg Thalmann Financial Services increased their target price on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, June 9th. Barclays PLC reiterated an “equal weight” rating and set a $68.00 target price (up previously from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. Finally, Deutsche Bank AG increased their target price on WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $64.57.
In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $62.50, for a total value of $966,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gale E. Klappa sold 100,610 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $61.67, for a total transaction of $6,204,618.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,925 shares of company stock valued at $8,329,130. Company insiders own 0.97% of the company’s stock.
About WEC Energy Group
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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