US Bancorp DE raised its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,475 shares of the utilities provider’s stock after buying an additional 8,264 shares during the period. US Bancorp DE owned 0.09% of WEC Energy Group worth $17,611,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp raised its position in WEC Energy Group by 6.7% in the fourth quarter. State Street Corp now owns 16,085,527 shares of the utilities provider’s stock valued at $943,419,000 after buying an additional 1,006,077 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $44,078,000. Asset Management One Co. Ltd. raised its position in WEC Energy Group by 1,875.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 635,364 shares of the utilities provider’s stock valued at $37,271,000 after buying an additional 603,201 shares in the last quarter. Energy Income Partners LLC acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $31,862,000. Finally, Renaissance Technologies LLC raised its position in WEC Energy Group by 123.4% in the fourth quarter. Renaissance Technologies LLC now owns 890,502 shares of the utilities provider’s stock valued at $52,228,000 after buying an additional 491,800 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.
Shares of WEC Energy Group Inc (NYSE WEC) opened at 63.04 on Tuesday. The stock has a market cap of $19.89 billion, a PE ratio of 21.08 and a beta of 0.06. WEC Energy Group Inc has a 12 month low of $53.66 and a 12 month high of $66.10. The firm’s 50-day moving average is $61.26 and its 200 day moving average is $59.29.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.42 billion. WEC Energy Group had a return on equity of 15.84% and a net margin of 15.49%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $1.09 EPS. On average, equities analysts predict that WEC Energy Group Inc will post $3.10 EPS for the current year. The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Wednesday, May 10th. WEC Energy Group’s payout ratio is 70.51%.
Several equities analysts recently commented on WEC shares. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, March 17th. Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 target price (up previously from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. Deutsche Bank AG increased their target price on shares of WEC Energy Group from $60.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, April 11th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of WEC Energy Group in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $64.50. In related news, VP James A. Schubilske sold 4,260 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $61.56, for a total transaction of $262,245.60. Following the completion of the sale, the vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $524,060.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Tom Metcalfe sold 7,935 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $61.30, for a total value of $486,415.50. Following the sale, the vice president now directly owns 13,994 shares of the company’s stock, valued at $857,832.20. The disclosure for this sale can be found here. Insiders have sold a total of 134,925 shares of company stock valued at $8,329,130 over the last three months. Corporate insiders own 0.81% of the company’s stock.
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