Integrys Energy Group Sees Unusually-High Trading Volume After Dividend Announcement (TEG)
Integrys Energy Group (NYSE:TEG) saw unusually-high trading volume on Friday after the company announced a dividend, ARN reports. Approximately 2,157,029 shares changed hands during mid-day trading, an increase of 314% from the previous session’s volume of 520,606 shares.The stock last traded at $66.30 and had previously closed at $66.38.
The newly announced dividend is scheduled for Saturday, September 20th. Investors of record on Friday, August 29th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 4.10%.
A number of analysts have recently weighed in on TEG shares. Analysts at Zacks reiterated a “neutral” rating on shares of Integrys Energy Group in a research note on Friday, August 8th. They now have a $68.00 price target on the stock. Separately, analysts at SunTrust reiterated a “neutral” rating on shares of Integrys Energy Group in a research note on Monday, August 4th. They now have a $68.00 price target on the stock, down previously from $70.00. Finally, analysts at Robert W. Baird downgraded shares of Integrys Energy Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 24th. They now have a $68.00 price target on the stock, up previously from $64.00. Five analysts have rated the stock with a hold rating, Integrys Energy Group has an average rating of “Hold” and an average target price of $65.00.
The stock’s 50-day moving average is $68.05 and its 200-day moving average is $60.58. The company has a market cap of $5.273 billion and a P/E ratio of 16.26.
Integrys Energy Group (NYSE:TEG) last announced its earnings results on Wednesday, August 6th. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.25. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $723.00 million. During the same quarter last year, the company posted $0.45 earnings per share. Integrys Energy Group’s revenue was up 28.4% compared to the same quarter last year. On average, analysts predict that Integrys Energy Group will post $3.50 earnings per share for the current fiscal year.
In other Integrys Energy Group news, CFO James F. Schott sold 4,989 shares of Integrys Energy Group stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $66.20, for a total transaction of $330,271.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Integrys Energy Group, Inc is a diversified energy holding company. The Company’s wholly owned subsidiaries provide products and services in both the regulated and nonregulated energy markets.
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