WEC Energy Group Inc (NYSE:WEC) Shares Acquired by Wright Investors Service Inc.

Wright Investors Service Inc. increased its position in WEC Energy Group Inc (NYSE:WEC) by 7.5% during the second quarter, HoldingsChannel.com reports. The fund owned 21,824 shares of the utilities provider’s stock after acquiring an additional 1,524 shares during the quarter. Wright Investors Service Inc.’s holdings in WEC Energy Group were worth $1,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Sky Asset Management LLC acquired a new stake in WEC Energy Group during the 1st quarter valued at $25,000. Weaver Consulting Group acquired a new stake in WEC Energy Group during the 1st quarter valued at $25,000. Trustcore Financial Services LLC acquired a new stake in WEC Energy Group during the 2nd quarter valued at $25,000. CNB Bank grew its holdings in WEC Energy Group by 253.8% during the 1st quarter. CNB Bank now owns 566 shares of the utilities provider’s stock valued at $45,000 after buying an additional 406 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. grew its holdings in WEC Energy Group by 38.6% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 585 shares of the utilities provider’s stock valued at $49,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 75.05% of the company’s stock.

In other WEC Energy Group news, Director Allen L. Leverett sold 100,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $82.49, for a total transaction of $8,249,000.00. Following the transaction, the director now owns 131,281 shares of the company’s stock, valued at approximately $10,829,369.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Gale E. Klappa sold 9,044 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $81.23, for a total value of $734,644.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 554,210 shares of company stock worth $45,971,457. Corporate insiders own 0.75% of the company’s stock.

A number of brokerages have commented on WEC. Credit Suisse Group cut WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the company from $84.00 to $85.00 in a report on Tuesday, August 6th. They noted that the move was a valuation call. KeyCorp began coverage on WEC Energy Group in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Bank of America cut WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their target price for the company from $82.00 to $85.00 in a report on Monday, June 24th. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the company a “sell” rating in a report on Friday, April 26th. Finally, Scotiabank cut WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $76.00 to $78.00 in a report on Wednesday, May 8th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $76.75.

Shares of WEC Energy Group stock traded up $1.27 during trading hours on Thursday, reaching $90.16. 54,366 shares of the company’s stock were exchanged, compared to its average volume of 1,871,318. WEC Energy Group Inc has a 52-week low of $64.96 and a 52-week high of $90.43. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 4.33 and a beta of 0.11. The company’s fifty day moving average is $86.29. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.55 and a quick ratio of 0.41.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. WEC Energy Group had a return on equity of 11.00% and a net margin of 14.24%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, equities analysts forecast that WEC Energy Group Inc will post 3.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Tuesday, August 13th. WEC Energy Group’s dividend payout ratio is presently 70.66%.

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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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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