First Heartland Consultants Inc. reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 14.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,191 shares of the utilities provider’s stock after selling 3,889 shares during the period. First Heartland Consultants Inc.’s holdings in WEC Energy Group were worth $1,362,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of WEC. Quadrature Capital Ltd purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $536,000. Teachers Advisors LLC boosted its position in shares of WEC Energy Group by 9.4% in the fourth quarter. Teachers Advisors LLC now owns 562,120 shares of the utilities provider’s stock valued at $32,968,000 after buying an additional 48,170 shares during the period. Kentucky Retirement Systems purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $1,343,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $599,000. Finally, Macquarie Group Ltd. boosted its position in shares of WEC Energy Group by 1.9% in the fourth quarter. Macquarie Group Ltd. now owns 248,083 shares of the utilities provider’s stock valued at $14,550,000 after buying an additional 4,535 shares during the period. 70.72% of the stock is owned by institutional investors.
Shares of WEC Energy Group, Inc. (WEC) opened at 64.47 on Thursday. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 21.14 and a beta of 0.11. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $64.90. The stock has a 50 day moving average price of $62.49 and a 200-day moving average price of $60.92.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the company earned $0.57 EPS. WEC Energy Group’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Thursday, August 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.23%. WEC Energy Group’s payout ratio is presently 68.42%.
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Several research analysts recently commented on WEC shares. Zacks Investment Research cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Monday, April 17th. Barclays PLC reaffirmed an “equal weight” rating and issued a $68.00 target price (up from $61.00) on shares of WEC Energy Group in a research report on Sunday, April 23rd. Wolfe Research reiterated a “peer perform” rating on shares of WEC Energy Group in a research note on Monday, April 24th. Ladenburg Thalmann Financial Services increased their price objective on WEC Energy Group from $62.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.86.
In other WEC Energy Group news, VP Susan H. Martin sold 15,470 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $62.50, for a total value of $966,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by corporate insiders.
About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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