Martingale Asset Management L P boosted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 20.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,829 shares of the utilities provider’s stock after purchasing an additional 32,400 shares during the quarter. Martingale Asset Management L P’s holdings in WEC Energy Group were worth $15,250,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Cox Capital Mgt LLC raised its holdings in WEC Energy Group by 2.7% in the 4th quarter. Cox Capital Mgt LLC now owns 5,502 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 143 shares in the last quarter. 1ST Source Bank raised its holdings in WEC Energy Group by 3.6% in the 1st quarter. 1ST Source Bank now owns 4,138 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 144 shares in the last quarter. Somerset Trust Co raised its holdings in WEC Energy Group by 0.6% in the 1st quarter. Somerset Trust Co now owns 26,688 shares of the utilities provider’s stock valued at $2,111,000 after acquiring an additional 168 shares in the last quarter. IHT Wealth Management LLC raised its holdings in WEC Energy Group by 3.0% in the 4th quarter. IHT Wealth Management LLC now owns 5,802 shares of the utilities provider’s stock valued at $402,000 after acquiring an additional 170 shares in the last quarter. Finally, Gofen & Glossberg LLC IL raised its holdings in WEC Energy Group by 0.4% in the 1st quarter. Gofen & Glossberg LLC IL now owns 42,889 shares of the utilities provider’s stock valued at $3,392,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.
In related news, insider Tom Metcalfe sold 13,675 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $75.72, for a total transaction of $1,035,471.00. Following the completion of the sale, the insider now directly owns 20,304 shares of the company’s stock, valued at approximately $1,537,418.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William J. Guc sold 4,481 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $78.10, for a total value of $349,966.10. The disclosure for this sale can be found here. Insiders have sold a total of 282,622 shares of company stock valued at $22,903,752 over the last ninety days. Insiders own 0.75% of the company’s stock.
WEC has been the subject of several recent research reports. Argus upped their price target on WEC Energy Group to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Credit Suisse Group increased their target price on WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Wells Fargo & Co increased their target price on WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th. Finally, Scotiabank cut WEC Energy Group from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $76.00 to $78.00 in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $74.33.
Shares of WEC opened at $82.41 on Friday. WEC Energy Group Inc has a 1 year low of $58.48 and a 1 year high of $83.01. The company has a quick ratio of 0.51, a current ratio of 0.67 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $25.51 billion, a PE ratio of 24.67, a P/E/G ratio of 5.04 and a beta of 0.16.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, April 25th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the firm posted $1.23 EPS. WEC Energy Group’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that WEC Energy Group Inc will post 3.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 2.86%. WEC Energy Group’s dividend payout ratio is 70.66%.
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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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