First Republic Investment Management Inc. Boosts Holdings in WEC Energy Group Inc (WEC)

First Republic Investment Management Inc. boosted its stake in WEC Energy Group Inc (NYSE:WEC) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,355 shares of the utilities provider’s stock after purchasing an additional 2,948 shares during the quarter. First Republic Investment Management Inc.’s holdings in WEC Energy Group were worth $2,157,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. ARGI Investment Services LLC acquired a new position in shares of WEC Energy Group during the second quarter valued at about $870,000. Principal Financial Group Inc. grew its holdings in shares of WEC Energy Group by 362.0% during the second quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock valued at $134,737,000 after buying an additional 1,719,955 shares during the last quarter. KBC Group NV grew its holdings in shares of WEC Energy Group by 14.1% during the second quarter. KBC Group NV now owns 33,577 shares of the utilities provider’s stock valued at $2,061,000 after buying an additional 4,152 shares during the last quarter. Marshall Wace North America L.P. grew its holdings in shares of WEC Energy Group by 493.4% during the second quarter. Marshall Wace North America L.P. now owns 57,675 shares of the utilities provider’s stock valued at $3,518,000 after buying an additional 47,955 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of WEC Energy Group by 2.2% during the second quarter. Swiss National Bank now owns 1,720,581 shares of the utilities provider’s stock valued at $105,609,000 after buying an additional 37,600 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

WEC has been the subject of a number of analyst reports. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. Bank of America began coverage on shares of WEC Energy Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $67.00 price target on the stock. Finally, Credit Suisse Group began coverage on shares of WEC Energy Group in a report on Thursday, December 7th. They set a “neutral” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.00.

WEC Energy Group Inc (NYSE WEC) traded up $0.21 during trading on Tuesday, reaching $69.17. 3,172,200 shares of the company traded hands, compared to its average volume of 1,647,733. WEC Energy Group Inc has a 1-year low of $56.05 and a 1-year high of $70.09. The stock has a market capitalization of $21,762.09, a PE ratio of 22.68, a PEG ratio of 4.18 and a beta of 0.15. 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 (NYSE:WEC) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. equities analysts predict that WEC Energy Group Inc will post 3.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 14th will be given a $0.5525 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $2.21 annualized dividend and a yield of 3.20%. WEC Energy Group’s payout ratio is currently 68.42%.

In other WEC Energy Group news, Chairman Gale E. Klappa sold 52,722 shares of WEC Energy Group stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $3,658,906.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Scott J. Lauber sold 1,240 shares of WEC Energy Group stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total transaction of $86,800.00. The disclosure for this sale can be found here. 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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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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