Keybank National Association OH reduced its position in WEC Energy Group Inc (NYSE:WEC) by 22.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,313 shares of the utilities provider’s stock after selling 3,537 shares during the period. Keybank National Association OH’s holdings in WEC Energy Group were worth $818,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its position in shares of WEC Energy Group by 36.6% in the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after buying an additional 1,972,929 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of WEC Energy Group by 28.9% in the third quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock worth $178,873,000 after buying an additional 638,010 shares in the last quarter. Legal & General Group Plc lifted its position in shares of WEC Energy Group by 4.3% in the third quarter. Legal & General Group Plc now owns 2,588,348 shares of the utilities provider’s stock worth $162,500,000 after buying an additional 106,633 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of WEC Energy Group by 7.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,494,698 shares of the utilities provider’s stock worth $157,276,000 after buying an additional 165,710 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of WEC Energy Group by 170.9% in the fourth quarter. APG Asset Management N.V. now owns 2,403,530 shares of the utilities provider’s stock worth $132,967,000 after buying an additional 1,516,384 shares in the last quarter. Institutional investors own 72.92% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Sunday, January 21st. UBS Group assumed coverage on WEC Energy Group in a research report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 target price on the stock. Wells Fargo & Co decreased their price objective on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. Credit Suisse Group decreased their price objective on WEC Energy Group from $65.00 to $63.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Guggenheim restated a “buy” rating and set a $73.00 price objective on shares of WEC Energy Group in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.70.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. equities research analysts predict that WEC Energy Group Inc will post 3.3 EPS for the current 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 dividend of $0.5525 per share. The ex-dividend date is Tuesday, February 13th. 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 3.57%. WEC Energy Group’s dividend payout ratio is 58.31%.
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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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