Nomura Asset Management Co. Ltd. Sells 3,896 Shares of WEC Energy Group Inc (WEC)
Nomura Asset Management Co. Ltd. trimmed its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,897 shares of the utilities provider’s stock after selling 3,896 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.09% of WEC Energy Group worth $17,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hudock Capital Group LLC lifted its holdings in WEC Energy Group by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 4,322 shares of the utilities provider’s stock worth $265,000 after buying an additional 17 shares during the period. MAI Capital Management lifted its holdings in WEC Energy Group by 1.1% in the 2nd quarter. MAI Capital Management now owns 4,210 shares of the utilities provider’s stock worth $258,000 after buying an additional 45 shares during the period. Eaton Vance Management lifted its holdings in WEC Energy Group by 0.5% in the 2nd quarter. Eaton Vance Management now owns 12,090 shares of the utilities provider’s stock worth $742,000 after buying an additional 65 shares during the period. Conning Inc. lifted its holdings in WEC Energy Group by 0.4% in the 2nd quarter. Conning Inc. now owns 18,498 shares of the utilities provider’s stock worth $1,135,000 after buying an additional 74 shares during the period. Finally, Capital Advisors Inc. OK lifted its holdings in WEC Energy Group by 2.1% in the 2nd quarter. Capital Advisors Inc. OK now owns 3,705 shares of the utilities provider’s stock worth $227,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 72.60% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. BidaskClub upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Bank of America assumed coverage on WEC Energy Group in a report on Tuesday, October 24th. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. WEC Energy Group has an average rating of “Hold” and a consensus price target of $65.43.
WEC Energy Group Inc (NYSE:WEC) traded down $0.34 on Wednesday, hitting $68.24. The stock had a trading volume of 1,811,600 shares, compared to its average volume of 1,645,750. The stock has a market cap of $21,642.18, a PE ratio of 22.56, a PEG ratio of 4.16 and a beta of 0.15. The company has a current ratio of 0.60, a quick ratio of 0.38 and a debt-to-equity ratio of 0.96. WEC Energy Group Inc has a 52 week low of $55.36 and a 52 week high of $70.09.
WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 26th. The utilities provider reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. WEC Energy Group had a return on equity of 10.62% and a net margin of 12.79%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. sell-side analysts predict that WEC Energy Group Inc will post 3.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Monday, November 13th. WEC Energy Group’s payout ratio is presently 68.42%.
In other news, VP Scott J. Lauber sold 1,240 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $70.00, for a total value of $86,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gale E. Klappa sold 52,722 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,962 shares of company stock valued at $4,735,707. 0.97% of the stock is currently owned by company insiders.
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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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