Chevy Chase Trust Holdings Inc. lowered its position in WEC Energy Group Inc (NYSE:WEC) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,585 shares of the utilities provider’s stock after selling 1,239 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in WEC Energy Group were worth $17,364,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bray Capital Advisors purchased a new stake in shares of WEC Energy Group in the first quarter valued at $100,000. St. Johns Investment Management Company LLC raised its stake in shares of WEC Energy Group by 100.0% in the second quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock valued at $102,000 after acquiring an additional 800 shares during the period. Well Done LLC purchased a new stake in shares of WEC Energy Group in the first quarter valued at $144,000. Financial Gravity Wealth Inc. purchased a new stake in shares of WEC Energy Group in the first quarter valued at $153,000. Finally, Signaturefd LLC purchased a new stake in shares of WEC Energy Group in the first quarter valued at $166,000. 73.38% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 23rd. ValuEngine raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Citigroup assumed coverage on shares of WEC Energy Group in a research note on Friday, April 13th. They issued a “neutral” rating and a $61.00 target price on the stock. Finally, Credit Suisse Group increased their target price on shares of WEC Energy Group from $65.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 2nd. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $68.00.
In related news, Director Barbara L. Bowles sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $66.45, for a total value of $166,125.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.
WEC Energy Group opened at $66.98 on Friday, MarketBeat reports. The stock has a market capitalization of $20.98 billion, a P/E ratio of 21.33, a P/E/G ratio of 4.85 and a beta of 0.05. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $70.09. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.95.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.57 billion. WEC Energy Group had a net margin of 16.56% and a return on equity of 11.18%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. equities research analysts expect that WEC Energy Group Inc will post 3.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 14th will be paid a $0.5525 dividend. This represents a $2.21 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, August 13th. WEC Energy Group’s dividend payout ratio is presently 70.38%.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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