Spinnaker Trust grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 25.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,614 shares of the utilities provider’s stock after acquiring an additional 4,235 shares during the period. Spinnaker Trust’s holdings in WEC Energy Group were worth $1,294,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. raised its position in shares of WEC Energy Group by 8.8% during the 2nd 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 last quarter. Delphi Private Advisors LLC grew its stake in WEC Energy Group by 182.3% in the 2nd quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 1,276 shares during the period. Country Trust Bank grew its stake in WEC Energy Group by 5.7% in the 2nd quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 112 shares during the period. Captrust Financial Advisors purchased a new stake in WEC Energy Group in the 2nd quarter worth approximately $132,000. Finally, Private Vista LLC purchased a new stake in WEC Energy Group in the 2nd quarter worth approximately $136,000. Hedge funds and other institutional investors own 70.30% of the company’s stock.
WEC Energy Group, Inc. (NYSE WEC) traded up $0.95 during midday trading on Tuesday, reaching $68.35. 1,783,000 shares of the company’s stock traded hands, compared to its average volume of 1,649,181. WEC Energy Group, Inc. has a 1 year low of $54.24 and a 1 year high of $68.67. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. The company has a market cap of $21,940.00, a PE ratio of 22.34, a price-to-earnings-growth ratio of 4.27 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $1.66 billion during 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 business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $0.69 earnings per share. equities research analysts anticipate that WEC Energy Group, Inc. will post 3.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, November 13th. WEC Energy Group’s dividend payout ratio is presently 68.42%.
Several analysts have recently issued reports on WEC shares. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, October 27th. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Friday, October 20th. Finally, Bank of America Corporation initiated coverage on shares of 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. WEC Energy Group has an average rating of “Hold” and an average price target of $64.86.
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In other WEC Energy Group news, VP Susan H. Martin sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 100,500 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,190 shares of company stock valued at $11,791,084. Company insiders own 0.97% of the company’s stock.
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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