MUFG Americas Holdings Corp boosted its stake in WEC Energy Group Inc (NYSE:WEC) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,976 shares of the company’s stock after buying an additional 4,702 shares during the period. MUFG Americas Holdings Corp owned approximately 0.07% of WEC Energy Group worth $13,781,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Country Trust Bank raised its stake in WEC Energy Group by 6.9% in the third quarter. Country Trust Bank now owns 2,036 shares of the company’s stock valued at $122,000 after buying an additional 132 shares during the period. Washington Trust Bank raised its stake in WEC Energy Group by 73.6% in the third quarter. Washington Trust Bank now owns 2,135 shares of the company’s stock valued at $128,000 after buying an additional 905 shares during the period. NN Investment Partners Holdings N.V. raised its stake in WEC Energy Group by 22.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,221 shares of the company’s stock valued at $130,000 after buying an additional 400 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in WEC Energy Group during the fourth quarter valued at about $135,000. Finally, First Command Bank purchased a new stake in WEC Energy Group during the fourth quarter valued at about $136,000. 69.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WEC Energy Group Inc (NYSE:WEC) traded up 0.19% during midday trading on Friday, reaching $57.54. 1,974,190 shares of the company’s stock were exchanged. The company has a market cap of $18.16 billion, a P/E ratio of 19.44 and a beta of 0.06. WEC Energy Group Inc has a 12 month low of $53.66 and a 12 month high of $66.10. The firm has a 50 day moving average price of $58.36 and a 200 day moving average price of $59.05.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, February 1st. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.01. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.85 billion. WEC Energy Group had a net margin of 12.58% and a return on equity of 10.63%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. Equities research analysts forecast that WEC Energy Group Inc will post $3.10 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Tuesday, February 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, February 10th. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.50. WEC Energy Group’s payout ratio is presently 67.12%.
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WEC has been the topic of several research analyst reports. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Wednesday, January 11th. Mizuho lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $63.00 to $59.00 in a research report on Thursday, February 2nd. Guggenheim initiated coverage on shares of WEC Energy Group in a research report on Thursday, November 3rd. They issued a “buy” rating and a $63.00 price objective on the stock. Wolfe Research lowered shares of WEC Energy Group from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 2nd. Finally, KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research report on Wednesday, November 9th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $63.00.
In other WEC Energy Group news, insider Allen L. Leverett sold 29,715 shares of WEC Energy Group stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $58.32, for a total transaction of $1,732,978.80. Following the completion of the transaction, the insider now owns 78,247 shares of the company’s stock, valued at approximately $4,563,365.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by insiders.
About WEC Energy Group
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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