Reilly Herbert Faulkner III lifted its position in WEC Energy Group (NYSE:WEC) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,208 shares of the utilities provider’s stock after buying an additional 1,884 shares during the quarter. WEC Energy Group makes up 2.8% of Reilly Herbert Faulkner III’s investment portfolio, making the stock its 20th largest holding. Reilly Herbert Faulkner III’s holdings in WEC Energy Group were worth $4,904,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of WEC. Bray Capital Advisors purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $100,000. Advisory Services Network LLC raised its holdings in shares of WEC Energy Group by 157.2% in the 4th quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock valued at $112,000 after buying an additional 1,033 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of WEC Energy Group in the 4th quarter valued at $122,000. Hanson & Doremus Investment Management purchased a new stake in shares of WEC Energy Group in the 4th quarter valued at $133,000. Finally, Signaturefd LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at $166,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.
Several equities research analysts have weighed in on WEC shares. Guggenheim restated a “buy” rating and set a $66.00 price target on shares of WEC Energy Group in a report on Friday, February 23rd. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, April 23rd. Wells Fargo cut their price target on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a report on Thursday, February 1st. Credit Suisse Group upped their price target on WEC Energy Group from $65.00 to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, May 2nd. Finally, UBS started coverage on WEC Energy Group in a report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $66.00.
In other news, Director Ulice Payne, Jr. sold 1,600 shares of the company’s stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $64.45, for a total transaction of $103,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara L. Bowles sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total value of $120,380.00. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.
Shares of WEC Energy Group opened at $61.32 on Wednesday, according to MarketBeat.com. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 0.89. WEC Energy Group has a 1-year low of $60.93 and a 1-year high of $61.73. The stock has a market cap of $19.51 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 4.54 and a beta of 0.06.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, May 1st. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.33 billion. WEC Energy Group had a return on equity of 11.01% and a net margin of 16.23%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. research analysts expect that WEC Energy Group will post 3.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 14th will be given a dividend of $0.5525 per share. The ex-dividend date is Friday, May 11th. This represents a $2.21 annualized dividend and a dividend yield of 3.60%. WEC Energy Group’s dividend payout ratio is currently 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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