Welch & Forbes LLC lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 17,952 shares of the company’s stock after selling 623 shares during the period. Welch & Forbes LLC’s holdings in WEC Energy Group were worth $1,075,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in WEC. Badgley Phelps & Bell Inc. boosted its stake in WEC Energy Group by 0.3% in the second quarter. Badgley Phelps & Bell Inc. now owns 123,550 shares of the company’s stock worth $8,068,000 after buying an additional 344 shares during the period. Integrated Wealth Management boosted its stake in WEC Energy Group by 0.3% in the second quarter. Integrated Wealth Management now owns 4,338 shares of the company’s stock worth $283,000 after buying an additional 11 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in WEC Energy Group by 11.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,089 shares of the company’s stock worth $2,095,000 after buying an additional 3,340 shares during the period. Nicolet Bankshares Inc. boosted its stake in WEC Energy Group by 23.8% in the second quarter. Nicolet Bankshares Inc. now owns 20,361 shares of the company’s stock worth $1,330,000 after buying an additional 3,920 shares during the period. Finally, Spectrum Management Group Inc. boosted its stake in WEC Energy Group by 613.7% in the second quarter. Spectrum Management Group Inc. now owns 6,530 shares of the company’s stock worth $426,000 after buying an additional 5,615 shares during the period. 69.55% of the stock is currently owned by institutional investors.
WEC Energy Group, Inc. (NYSE:WEC) opened at 58.23 on Friday. The firm has a 50 day moving average price of $58.38 and a 200 day moving average price of $59.52. The company has a market cap of $18.38 billion, a PE ratio of 19.98 and a beta of 0.04. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $66.10.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $2.15 billion. WEC Energy Group had a net margin of 12.58% and a return on equity of 10.76%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, analysts anticipate that WEC Energy Group, Inc. will post $2.94 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 14th will be paid a dividend of $0.52 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, February 10th. WEC Energy Group’s dividend payout ratio is 68.04%.
Several equities research analysts recently commented on the company. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a report on Wednesday, November 9th. Zacks Investment Research cut WEC Energy Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 27th. Finally, Guggenheim assumed coverage on WEC Energy Group in a report on Thursday, November 3rd. They set a “buy” rating and a $63.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $62.50.
In other news, insider Allen L. Leverett sold 29,715 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $58.32, for a total transaction of $1,732,978.80. Following the sale, the insider now directly owns 78,247 shares of the company’s stock, valued at $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 owned by corporate 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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