UBS Asset Management Americas Inc. lifted its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 7.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,959,532 shares of the utilities provider’s stock after purchasing an additional 201,585 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in WEC Energy Group were worth $196,602,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of WEC Energy Group by 2.1% during the fourth quarter. BlackRock Inc. now owns 26,807,670 shares of the utilities provider’s stock worth $1,780,834,000 after buying an additional 560,644 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of WEC Energy Group by 14.7% during the fourth quarter. Schroder Investment Management Group now owns 39,066 shares of the utilities provider’s stock worth $2,595,000 after buying an additional 5,002 shares in the last quarter. Bridges Investment Management Inc. increased its holdings in shares of WEC Energy Group by 16.5% during the fourth quarter. Bridges Investment Management Inc. now owns 11,519 shares of the utilities provider’s stock worth $765,000 after buying an additional 1,635 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of WEC Energy Group during the fourth quarter worth $245,000. Finally, Rhumbline Advisers increased its holdings in shares of WEC Energy Group by 1.0% during the fourth quarter. Rhumbline Advisers now owns 631,971 shares of the utilities provider’s stock worth $41,982,000 after buying an additional 6,264 shares in the last quarter. Institutional investors own 72.97% of the company’s stock.
Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 price target for the company. in a report on Sunday, January 21st. UBS Group assumed coverage on shares of WEC Energy Group in a report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target for the company. Wells Fargo & Co lowered their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a report on Thursday, February 1st. Guggenheim restated a “buy” rating and issued a $73.00 price objective on shares of WEC Energy Group in a report on Wednesday, January 3rd. Finally, Credit Suisse Group began coverage on WEC Energy Group in a report on Thursday, December 7th. They issued a “neutral” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. WEC Energy Group has an average rating of “Hold” and a consensus target price of $67.40.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.94 billion. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. WEC Energy Group’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. equities analysts anticipate that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be issued a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a yield of 3.57%. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, February 13th. WEC Energy Group’s dividend payout ratio is presently 58.31%.
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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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