TCW Group Inc. increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 50.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,958 shares of the company’s stock after buying an additional 11,658 shares during the period. TCW Group Inc.’s holdings in WEC Energy Group were worth $2,050,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in WEC. Country Trust Bank increased its stake in shares of WEC Energy Group by 6.9% in the third quarter. Country Trust Bank now owns 2,036 shares of the company’s stock valued at $122,000 after buying an additional 132 shares in the last quarter. Washington Trust Bank increased its stake in shares of WEC Energy Group by 73.6% in the third quarter. Washington Trust Bank now owns 2,135 shares of the company’s stock valued at $128,000 after buying an additional 905 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of WEC Energy Group by 22.0% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,221 shares of the company’s stock valued at $130,000 after buying an additional 400 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of WEC Energy Group during the fourth quarter valued at about $135,000. Finally, First Command Bank bought a new stake in shares of WEC Energy Group during the fourth quarter valued at about $136,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.
Shares of WEC Energy Group, Inc. (NYSE:WEC) traded down 0.42% during mid-day trading on Friday, hitting $57.24. The stock had a trading volume of 346,939 shares. The stock has a market cap of $18.07 billion, a P/E ratio of 19.34 and a beta of 0.06. WEC Energy Group, Inc. has a 52 week low of $53.66 and a 52 week high of $66.10. The stock has a 50-day moving average price of $58.25 and a 200 day moving average price of $58.85.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, February 1st. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the business earned $0.63 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities 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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, February 10th. This is a positive change 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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Several analysts recently issued reports on the company. Zacks Investment Research downgraded WEC Energy Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 27th. Wolfe Research downgraded WEC Energy Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 2nd. Mizuho downgraded WEC Energy Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $63.00 to $59.00 in a research note on Thursday, February 2nd. Guggenheim assumed coverage on WEC Energy Group in a research note on Thursday, November 3rd. They set a “buy” rating and a $63.00 target price for the company. Finally, KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research note on Wednesday, November 9th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $63.00.
In related news, insider Allen L. Leverett sold 29,715 shares of WEC Energy Group stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $58.32, for a total value of $1,732,978.80. Following the completion of the sale, the insider now owns 78,247 shares of the company’s stock, valued at approximately $4,563,365.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.81% of the stock is currently 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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