Canada Pension Plan Investment Board trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 36.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 289,043 shares of the utilities provider’s stock after selling 169,300 shares during the period. Canada Pension Plan Investment Board owned 0.09% of WEC Energy Group worth $18,146,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in WEC Energy Group by 1.6% in the third quarter. Baillie Gifford & Co. now owns 206,537 shares of the utilities provider’s stock worth $12,966,000 after purchasing an additional 3,231 shares during the period. Reilly Financial Advisors LLC grew its stake in WEC Energy Group by 3.4% in the third quarter. Reilly Financial Advisors LLC now owns 24,941 shares of the utilities provider’s stock worth $1,566,000 after purchasing an additional 810 shares during the period. Cable Hill Partners LLC grew its stake in shares of WEC Energy Group by 3,307.8% in the third quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,687 shares during the last quarter. Parametrica Management Ltd purchased a new stake in shares of WEC Energy Group in the third quarter worth $234,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of WEC Energy Group in the third quarter worth $7,172,000. 70.19% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on WEC shares. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Bank of America Corporation started coverage on WEC Energy Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $67.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $64.86.
WEC Energy Group, Inc. (NYSE:WEC) opened at $68.17 on Thursday. The stock has a market capitalization of $21,534.88, a price-to-earnings ratio of 22.45, a PEG ratio of 4.29 and a beta of 0.14. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. WEC Energy Group, Inc. has a 1-year low of $53.66 and a 1-year high of $68.67.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. analysts predict that WEC Energy Group, Inc. will post 3.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Monday, November 13th. WEC Energy Group’s payout ratio is currently 68.42%.
In other news, VP Tom Metcalfe sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total transaction of $644,400.00. Following the transaction, the vice president now directly owns 16,059 shares of the company’s stock, valued at $1,034,841.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Susan H. Martin sold 15,000 shares of the company’s stock in a transaction on 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 ninety days, insiders have sold 192,190 shares of company stock worth $12,435,484. Corporate insiders own 0.97% of the company’s stock.
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WEC Energy Group Company 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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