Foundations Investment Advisors LLC decreased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,923 shares of the utilities provider’s stock after selling 191 shares during the period. Foundations Investment Advisors LLC’s holdings in WEC Energy Group were worth $433,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. CX Institutional boosted its holdings in shares of WEC Energy Group by 154.6% in the 3rd quarter. CX Institutional now owns 387 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 235 shares in the last quarter. Old North State Trust LLC bought a new stake in WEC Energy Group in the 3rd quarter worth approximately $63,000. Bainco International Investors purchased a new stake in WEC Energy Group in the fourth quarter worth approximately $70,000. Freestone Capital Holdings LLC bought a new position in WEC Energy Group during the third quarter valued at approximately $76,000. Finally, Harbor Investment Advisory LLC raised its stake in shares of WEC Energy Group by 90.0% during the third quarter. Harbor Investment Advisory LLC now owns 853 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 404 shares in the last quarter. 73.05% of the stock is currently owned by hedge funds and other institutional investors.
WEC has been the topic of several recent research reports. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 target price on the stock in a report on Wednesday. Credit Suisse Group raised their price objective on WEC Energy Group from $81.00 to $83.00 and gave the company an “underperform” rating in a research note on Monday, November 2nd. Finally, KeyCorp boosted their target price on WEC Energy Group from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, October 19th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and an average target price of $94.50.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Sunday, November 8th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. WEC Energy Group had a return on equity of 11.36% and a net margin of 16.26%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company posted $0.74 EPS. WEC Energy Group’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts forecast that WEC Energy Group, Inc. will post 3.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Sunday, February 14th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Thursday, February 11th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.63. WEC Energy Group’s dividend payout ratio is currently 70.67%.
In other WEC Energy Group news, EVP Robert M. Garvin sold 24,665 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $101.58, for a total value of $2,505,470.70. Following the completion of the sale, the executive vice president now directly owns 34,194 shares in the company, valued at $3,473,426.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gale E. Klappa sold 4,501 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $105.59, for a total value of $475,260.59. Following the sale, the chairman now directly owns 214,342 shares in the company, valued at $22,632,371.78. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
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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