GWM Advisors LLC increased its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,093 shares of the utilities provider’s stock after acquiring an additional 6,095 shares during the period. WEC Energy Group comprises about 1.1% of GWM Advisors LLC’s portfolio, making the stock its 21st largest position. GWM Advisors LLC’s holdings in WEC Energy Group were worth $8,054,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. FMR LLC raised its stake in WEC Energy Group by 189.3% in the 2nd quarter. FMR LLC now owns 536,408 shares of the utilities provider’s stock worth $32,925,000 after purchasing an additional 351,003 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $235,000. Dimensional Fund Advisors LP grew its holdings in shares of WEC Energy Group by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 717,360 shares of the utilities provider’s stock valued at $44,032,000 after purchasing an additional 7,741 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of WEC Energy Group by 84.1% during the 2nd quarter. WINTON GROUP Ltd now owns 38,200 shares of the utilities provider’s stock valued at $2,345,000 after purchasing an additional 17,447 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in WEC Energy Group during the 2nd quarter worth approximately $312,000. Institutional investors and hedge funds own 72.92% of the company’s stock.
WEC has been the topic of a number of research reports. Bank of America boosted their target price on shares of WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Saturday, January 6th. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 target price on the stock. Guggenheim restated a “buy” rating and set a $73.00 price objective on shares of WEC Energy Group in a report on Wednesday, January 3rd. Finally, Wells Fargo & Co lowered their target price 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $67.40.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. WEC Energy Group’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. equities research analysts expect that WEC Energy Group Inc will post 3.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be paid a $0.5525 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.52. This represents a $2.21 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Tuesday, February 13th. WEC Energy Group’s dividend payout ratio (DPR) is currently 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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