Brookstone Capital Management raised its holdings in WEC Energy Group Inc (NYSE:WEC) by 42.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,150 shares of the utilities provider’s stock after acquiring an additional 1,544 shares during the quarter. Brookstone Capital Management’s holdings in WEC Energy Group were worth $407,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in WEC. Worldquant Millennium Quantitative Strategies LLC raised its holdings in WEC Energy Group by 31.0% in the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 39,892 shares of the utilities provider’s stock worth $2,763,000 after purchasing an additional 9,448 shares during the period. Executive Wealth Management LLC acquired a new stake in WEC Energy Group in the fourth quarter worth $98,000. Public Employees Retirement System of Ohio raised its holdings in WEC Energy Group by 1.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 155,548 shares of the utilities provider’s stock worth $10,773,000 after purchasing an additional 1,955 shares during the period. Empire Life Investments Inc. raised its holdings in WEC Energy Group by 25.4% in the first quarter. Empire Life Investments Inc. now owns 199,484 shares of the utilities provider’s stock worth $15,775,000 after purchasing an additional 40,412 shares during the period. Finally, Csenge Advisory Group raised its holdings in WEC Energy Group by 18.5% in the third quarter. Csenge Advisory Group now owns 5,959 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 929 shares during the period. 74.95% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Scott J. Lauber sold 3,650 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $76.26, for a total transaction of $278,349.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tom Metcalfe sold 13,675 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $75.72, for a total transaction of $1,035,471.00. Following the sale, the insider now owns 20,304 shares in the company, valued at $1,537,418.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 456,668 shares of company stock worth $34,330,208. 0.75% of the stock is currently owned by company insiders.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts predict that WEC Energy Group Inc will post 3.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.09%. WEC Energy Group’s payout ratio is 70.66%.
Several research firms have weighed in on WEC. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and cut their target price for the stock from $71.00 to $70.00 in a report on Monday, April 8th. Wells Fargo & Co increased their target price on shares of WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th. Credit Suisse Group increased their target price on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Finally, Argus increased their target price on shares of WEC Energy Group to $85.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.70.
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WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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