Los Angeles Capital Management & Equity Research Inc. Grows Holdings in WEC Energy Group Inc (WEC)
Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 185.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,427 shares of the utilities provider’s stock after buying an additional 11,963 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in WEC Energy Group were worth $1,191,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Bray Capital Advisors purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $100,000. St. Johns Investment Management Company LLC increased its position in shares of WEC Energy Group by 100.0% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,600 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 800 shares during the last quarter. Well Done LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $144,000. Financial Gravity Wealth Inc. purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $153,000. Finally, Signaturefd LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter valued at approximately $166,000. Institutional investors own 73.65% of the company’s stock.
NYSE WEC opened at $68.26 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $21.19 billion, a P/E ratio of 21.74, a P/E/G ratio of 4.90 and a beta of 0.05. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $70.09.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Tuesday, August 14th will be given a $0.5525 dividend. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, August 13th. WEC Energy Group’s dividend payout ratio (DPR) is 70.38%.
A number of brokerages have commented on WEC. Barclays began coverage on shares of WEC Energy Group in a research report on Tuesday, July 10th. They issued an “equal weight” rating and a $71.00 price objective on the stock. Bank of America raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Goldman Sachs Group raised shares of WEC Energy Group from a “sell” rating to a “neutral” rating in a research report on Thursday, July 19th. Finally, Citigroup increased their price objective on shares of WEC Energy Group from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, July 10th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $68.00.
In related news, insider Frederick D. Kuester sold 168,790 shares of the stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $66.94, for a total value of $11,298,802.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara L. Bowles sold 2,500 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $66.45, for a total transaction of $166,125.00. The disclosure for this sale can be found here. Company insiders own 0.94% 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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