Transamerica Financial Advisors Inc. trimmed its position in WEC Energy Group (NYSE:WEC) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,109 shares of the utilities provider’s stock after selling 2,904 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in WEC Energy Group were worth $3,205,000 at the end of the most recent quarter.
Other institutional investors 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 worth about $100,000. Advisory Services Network LLC lifted its holdings in shares of WEC Energy Group by 157.2% in the fourth quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock worth $112,000 after buying an additional 1,033 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of WEC Energy Group in the fourth quarter worth about $122,000. Hanson & Doremus Investment Management purchased a new stake in shares of WEC Energy Group in the fourth quarter worth about $133,000. Finally, Signaturefd LLC purchased a new stake in shares of WEC Energy Group in the first quarter worth about $166,000. 72.88% of the stock is currently owned by hedge funds and other institutional investors.
In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,600 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $64.45, for a total transaction of $103,120.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Barbara L. Bowles sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.19, for a total transaction of $120,380.00. The disclosure for this sale can be found here. 0.94% of the stock is owned by company insiders.
Shares of WEC opened at $60.37 on Tuesday. The company has a market capitalization of $19.08 billion, a P/E ratio of 19.23, a P/E/G ratio of 4.44 and a beta of 0.06. 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 $58.92 and a 1-year high of $70.09.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, May 1st. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.33 billion. WEC Energy Group had a net margin of 16.23% and a return on equity of 11.01%. WEC Energy Group’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $1.12 earnings per share. analysts anticipate that WEC Energy Group will post 3.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 14th will be given a dividend of $0.5525 per share. This represents a $2.21 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, May 11th. WEC Energy Group’s payout ratio is currently 70.38%.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group raised 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. Wells Fargo lowered their target price on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, April 7th. UBS assumed coverage on shares of WEC Energy Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $66.00 target price on shares of WEC Energy Group in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, seven have given 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.
About WEC Energy Group
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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