WEC Energy Group Inc (WEC) VP James A. Schubilske Sells 4,260 Shares
WEC Energy Group Inc (NYSE:WEC) VP James A. Schubilske sold 4,260 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $61.56, for a total transaction of $262,245.60. Following the completion of the sale, the vice president now owns 8,513 shares of the company’s stock, valued at $524,060.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
WEC Energy Group Inc (NYSE:WEC) traded down 1.01% during midday trading on Tuesday, reaching $60.94. 1,489,971 shares of the company were exchanged. The firm has a market capitalization of $19.23 billion, a PE ratio of 20.38 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 company has a 50-day moving average of $60.66 and a 200 day moving average of $58.63.
WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, May 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. WEC Energy Group had a return on equity of 10.63% and a net margin of 12.58%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that WEC Energy Group Inc will post $3.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 12th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, May 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.41%. WEC Energy Group’s dividend payout ratio (DPR) is 70.51%.
Several hedge funds have recently added to or reduced their stakes in WEC. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in WEC Energy Group by 8.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,849 shares of the utilities provider’s stock valued at $3,524,000 after buying an additional 4,732 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in WEC Energy Group by 1.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,012,844 shares of the utilities provider’s stock valued at $60,649,000 after buying an additional 16,746 shares during the period. DnB Asset Management AS increased its stake in WEC Energy Group by 6.8% in the third quarter. DnB Asset Management AS now owns 42,434 shares of the utilities provider’s stock valued at $2,541,000 after buying an additional 2,700 shares during the period. Rothschild Asset Management Inc. increased its stake in WEC Energy Group by 30.6% in the third quarter. Rothschild Asset Management Inc. now owns 10,443 shares of the utilities provider’s stock valued at $625,000 after buying an additional 2,449 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new stake in WEC Energy Group during the third quarter valued at $1,091,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
A number of equities research analysts have recently weighed in on WEC shares. Zacks Investment Research upgraded shares of 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. Mizuho lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $63.00 to $59.00 in a report on Thursday, February 2nd. Wolfe Research lowered shares of WEC Energy Group from an “outperform” rating to a “market perform” rating in a report on Thursday, February 2nd. Deutsche Bank AG boosted their price objective on shares of WEC Energy Group from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $68.00 price target (up from $61.00) on shares of WEC Energy Group in a report on Sunday, April 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.50.
About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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