Tiemann Investment Advisors LLC cut its position in WEC Energy Group, Inc. (NYSE:WEC) by 17.5% during the fourth quarter, Holdings Channel reports. The firm owned 3,748 shares of the company’s stock after selling 797 shares during the period. Tiemann Investment Advisors LLC’s holdings in WEC Energy Group were worth $220,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of WEC. Integrated Wealth Management increased its position in WEC Energy Group by 0.3% in the second quarter. Integrated Wealth Management now owns 4,338 shares of the company’s stock worth $283,000 after buying an additional 11 shares during the period. Hedeker Wealth LLC purchased a new position in WEC Energy Group during the third quarter worth about $207,000. Tarbox Group Inc. increased its position in WEC Energy Group by 0.4% in the third quarter. Tarbox Group Inc. now owns 3,539 shares of the company’s stock worth $212,000 after buying an additional 15 shares during the period. Hudock Capital Group LLC increased its position in WEC Energy Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 4,256 shares of the company’s stock worth $277,000 after buying an additional 16 shares during the period. Finally, Gradient Investments LLC increased its position in WEC Energy Group by 0.5% in the third quarter. Gradient Investments LLC now owns 4,216 shares of the company’s stock worth $252,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.
WEC Energy Group, Inc. (NYSE:WEC) traded down 0.66% during midday trading on Friday, hitting $57.10. The stock had a trading volume of 632,671 shares. The stock has a market cap of $18.02 billion, a PE ratio of 19.29 and a beta of 0.06. The company’s 50 day moving average price is $58.25 and its 200-day moving average price is $58.85. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $66.10.
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WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.01. WEC Energy Group had a net margin of 12.58% and a return on equity of 10.63%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. WEC Energy Group’s revenue was up 6.2% compared to the same quarter last year. Analysts forecast that WEC Energy Group, Inc. will post $3.10 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 14th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.62%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.50. WEC Energy Group’s payout ratio is presently 70.51%.
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A number of equities analysts have issued reports on the company. Mizuho downgraded WEC Energy Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $63.00 to $59.00 in a report on Thursday, February 2nd. KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Wednesday, November 9th. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, January 11th. Guggenheim assumed coverage on WEC Energy Group in a research note on Thursday, November 3rd. They issued a “buy” rating and a $63.00 target price on the stock. Finally, Wolfe Research cut WEC Energy Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.00.
In related news, insider Allen L. Leverett sold 29,715 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $58.32, for a total transaction of $1,732,978.80. Following the completion of the transaction, the insider now owns 78,247 shares in the company, valued at approximately $4,563,365.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.81% of the stock is owned by insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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