Tdam USA Inc. decreased its holdings in WEC Energy Group Inc (NYSE:WEC) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,021 shares of the utilities provider’s stock after selling 5,394 shares during the quarter. WEC Energy Group makes up approximately 1.5% of Tdam USA Inc.’s holdings, making the stock its 12th largest holding. Tdam USA Inc. owned 0.08% of WEC Energy Group worth $21,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. M Holdings Securities Inc. increased its position in WEC Energy Group by 574.7% in the 1st quarter. M Holdings Securities Inc. now owns 27,001 shares of the utilities provider’s stock worth $2,135,000 after purchasing an additional 22,999 shares during the last quarter. GWM Advisors LLC increased its position in shares of WEC Energy Group by 8.6% in the first quarter. GWM Advisors LLC now owns 184,081 shares of the utilities provider’s stock valued at $569,000 after acquiring an additional 14,597 shares during the period. Empire Life Investments Inc. increased its position in shares of WEC Energy Group by 25.4% in the first quarter. Empire Life Investments Inc. now owns 199,484 shares of the utilities provider’s stock valued at $15,775,000 after acquiring an additional 40,412 shares during the period. Alphasimplex Group LLC purchased a new position in shares of WEC Energy Group in the first quarter valued at about $399,000. Finally, California Public Employees Retirement System increased its position in shares of WEC Energy Group by 17.9% in the first quarter. California Public Employees Retirement System now owns 1,974,669 shares of the utilities provider’s stock valued at $156,157,000 after acquiring an additional 300,440 shares during the period. Institutional investors own 75.05% of the company’s stock.
Shares of WEC traded down $0.34 during mid-day trading on Tuesday, hitting $89.65. 229,098 shares of the company’s stock were exchanged, compared to its average volume of 1,876,496. The company has a market capitalization of $28.20 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 4.32 and a beta of 0.11. WEC Energy Group Inc has a fifty-two week low of $64.96 and a fifty-two week high of $90.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.41 and a current ratio of 0.55. The company has a 50-day moving average of $86.12.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. WEC Energy Group had a net margin of 14.24% and a return on equity of 11.00%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the prior year, the company earned $0.73 earnings per share. The business’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, research analysts predict that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $2.36 annualized dividend and a yield of 2.63%. WEC Energy Group’s dividend payout ratio is presently 70.66%.
In other WEC Energy Group news, insider Gale E. Klappa sold 73,669 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.43, for a total transaction of $6,514,549.67. Following the completion of the sale, the insider now directly owns 255,858 shares in the company, valued at $22,625,522.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott J. Lauber sold 3,360 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $82.50, for a total value of $277,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 553,210 shares of company stock worth $45,881,727. Corporate insiders own 0.75% of the company’s stock.
Several equities analysts recently issued reports on the stock. Bank of America cut shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and boosted their price target for the company from $82.00 to $85.00 in a research report on Monday, June 24th. Wolfe Research set a $77.00 price objective on shares of WEC Energy Group and gave the company a “sell” rating in a research report on Friday, April 26th. Credit Suisse Group downgraded shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $84.00 to $85.00 in a research report on Tuesday, August 6th. They noted that the move was a valuation call. KeyCorp began coverage on shares of WEC Energy Group in a research report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Finally, Scotiabank downgraded shares of WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $76.00 to $78.00 in a research report on Wednesday, May 8th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.75.
WEC Energy Group 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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