Twin Capital Management Inc. boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 0.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,580 shares of the company’s stock after buying an additional 20 shares during the period. Twin Capital Management Inc.’s holdings in WEC Energy Group were worth $2,967,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of WEC Energy Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 5,404,299 shares of the company’s stock worth $323,609,000 after buying an additional 837,177 shares during the last quarter. BlackRock Fund Advisors increased its position in WEC Energy Group by 8.0% in the third quarter. BlackRock Fund Advisors now owns 10,974,689 shares of the company’s stock valued at $657,164,000 after buying an additional 810,307 shares in the last quarter. Macquarie Group Ltd. increased its position in WEC Energy Group by 2.2% in the second quarter. Macquarie Group Ltd. now owns 232,148 shares of the company’s stock valued at $15,159,000 after buying an additional 5,000 shares in the last quarter. BlackRock Advisors LLC increased its position in WEC Energy Group by 2.3% in the third quarter. BlackRock Advisors LLC now owns 397,628 shares of the company’s stock valued at $23,810,000 after buying an additional 9,123 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. increased its position in WEC Energy Group by 4.3% in the third quarter. Penobscot Investment Management Company Inc. now owns 54,499 shares of the company’s stock valued at $3,263,000 after buying an additional 2,269 shares in the last quarter. Hedge funds and other institutional investors own 69.48% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded up 0.19% during midday trading on Friday, hitting $57.54. 1,974,190 shares of the stock traded hands. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of 19.44 and a beta of 0.06. WEC Energy Group, Inc. has a one year low of $53.66 and a one year 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 released its earnings results on Wednesday, February 1st. The company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company earned $1.96 billion during the quarter, compared to the consensus estimate of $1.85 billion. WEC Energy Group had a return on equity of 10.63% and a net margin of 12.58%. WEC Energy Group’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. Analysts anticipate that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.61%. This is an increase 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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Several equities analysts have issued reports on WEC shares. Guggenheim started coverage on shares of WEC Energy Group in a research note on Thursday, November 3rd. They issued a “buy” rating and a $63.00 price objective for the company. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, October 19th. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research note on Wednesday, November 9th. Wolfe Research downgraded shares of WEC Energy Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 2nd. Finally, Mizuho downgraded shares of WEC Energy Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $63.00 to $59.00 in a research note on Thursday, February 2nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $63.00.
In other news, insider Allen L. Leverett sold 29,715 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $58.32, for a total value of $1,732,978.80. Following the completion of the sale, 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 is available through the SEC website. 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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