BNP Paribas Arbitrage SA lessened its position in shares of WEC Energy Group Inc (NYSE:WEC) by 33.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,871 shares of the utilities provider’s stock after selling 55,746 shares during the period. BNP Paribas Arbitrage SA’s holdings in WEC Energy Group were worth $8,926,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. We Are One Seven LLC bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $30,000. Essex Investment Management Co. LLC bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $30,000. ERTS Wealth Advisors LLC bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $30,000. Arbor Wealth Management LLC bought a new stake in shares of WEC Energy Group during the 4th quarter valued at $32,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of WEC Energy Group by 6,740.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,359,757 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 2,325,262 shares during the period. 74.95% of the stock is currently owned by hedge funds and other institutional investors.
NYSE WEC traded up $0.90 during trading on Wednesday, reaching $81.76. The company’s stock had a trading volume of 1,152,950 shares, compared to its average volume of 1,685,005. 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 firm has a market capitalization of $25.51 billion, a P/E ratio of 24.48, a P/E/G ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $81.91.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.25 by $0.08. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.41 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 EPS. As a group, research analysts anticipate that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.59 per share. The ex-dividend date is Monday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 2.89%. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.
WEC has been the topic of a number of analyst reports. Zacks Investment Research lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. Wells Fargo & Co upped their target price on WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 13th. Credit Suisse Group upped their target price on WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Argus upped their target price on WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $71.00 to $70.00 in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $74.33.
In other news, CFO Scott J. Lauber sold 3,650 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $76.26, for a total transaction of $278,349.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Gale E. Klappa sold 130,784 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $75.94, for a total value of $9,931,736.96. The disclosure for this sale can be found here. Insiders have sold a total of 343,990 shares of company stock worth $26,762,666 over the last quarter. Corporate insiders own 0.75% of the company’s stock.
WEC Energy Group 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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