Crossmark Global Holdings Inc. bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 114,236 shares of the utilities provider’s stock, valued at approximately $7,172,000.
Other institutional investors also recently made changes to their positions in the company. Oakworth Capital Inc. raised its position in shares of WEC Energy Group by 8.8% during the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 132 shares during the period. Delphi Private Advisors LLC raised its position in shares of WEC Energy Group by 182.3% during the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 1,276 shares during the period. Country Trust Bank raised its position in shares of WEC Energy Group by 5.7% during the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 112 shares during the period. Captrust Financial Advisors acquired a new stake in shares of WEC Energy Group during the second quarter worth $132,000. Finally, Private Vista LLC acquired a new stake in shares of WEC Energy Group during the second quarter worth $136,000. 70.39% of the stock is currently owned by institutional investors.
WEC Energy Group, Inc. (NYSE WEC) opened at 67.39 on Wednesday. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $68.03. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 22.10 and a beta of 0.12. The company’s 50-day moving average price is $65.17 and its 200 day moving average price is $63.37.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Equities analysts predict that WEC Energy Group, Inc. will post $3.10 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.08 annualized dividend and a yield of 3.09%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
WEC has been the topic of a number of recent analyst reports. BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research report on Friday, September 1st. Finally, Bank of America Corporation initiated coverage on WEC Energy Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $64.63.
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In other WEC Energy Group news, Director Gale E. Klappa sold 100,500 shares of WEC Energy Group stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total value of $6,474,210.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Susan H. Martin sold 15,000 shares of WEC Energy Group stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,190 shares of company stock worth $12,435,484. Corporate insiders own 0.97% of the company’s stock.
WEC Energy Group Profile
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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