Vaughan David Investments Inc. IL decreased its holdings in WEC Energy Group Inc (NYSE:WEC) by 37.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,065 shares of the utilities provider’s stock after selling 3,067 shares during the quarter. Vaughan David Investments Inc. IL’s holdings in WEC Energy Group were worth $506,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. raised its holdings in WEC Energy Group by 8.8% in 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 period. Cable Hill Partners LLC raised its holdings in WEC Energy Group by 3,307.8% in the 3rd quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,687 shares during the period. Delphi Private Advisors LLC raised its holdings 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 purchasing an additional 1,276 shares during the period. Country Trust Bank raised its holdings 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 purchasing an additional 112 shares during the period. Finally, Captrust Financial Advisors acquired a new position in WEC Energy Group in the 2nd quarter worth about $132,000. 72.59% of the stock is owned by institutional investors.
In related news, Chairman Gale E. Klappa sold 52,722 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 68,962 shares of company stock valued at $4,735,707. Insiders own 0.97% of the company’s stock.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. equities analysts forecast that WEC Energy Group Inc will post 3.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Tuesday, November 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $2.08 annualized dividend and a dividend yield of 3.01%. WEC Energy Group’s dividend payout ratio is presently 68.42%.
A number of equities analysts recently weighed in on WEC shares. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. Bank of America increased their target price on WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, October 27th. Finally, BidaskClub raised WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and an average price target of $65.43.
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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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