Daiwa Securities Group Inc. Boosts Position in WEC Energy Group Inc. (WEC)
Daiwa Securities Group Inc. increased its stake in WEC Energy Group Inc. (NYSE:WEC) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,880 shares of the company’s stock after buying an additional 4,250 shares during the period. Daiwa Securities Group Inc.’s holdings in WEC Energy Group were worth $3,047,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Cantab Capital Partners LLP bought a new position in WEC Energy Group during the second quarter valued at approximately $108,000. Washington Trust Bank increased its position in WEC Energy Group by 73.6% in the third quarter. Washington Trust Bank now owns 2,135 shares of the company’s stock valued at $128,000 after buying an additional 905 shares during the period. Financial Architects Inc increased its position in WEC Energy Group by 240.3% in the second quarter. Financial Architects Inc now owns 2,130 shares of the company’s stock valued at $139,000 after buying an additional 1,504 shares during the period. Farmers National Bank bought a new position in WEC Energy Group during the second quarter valued at approximately $144,000. Finally, Evercore Wealth Management LLC increased its position in WEC Energy Group by 9.9% in the second quarter. Evercore Wealth Management LLC now owns 2,224 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 68.70% of the company’s stock.
WEC Energy Group Inc. (NYSE:WEC) traded down 0.02% during midday trading on Tuesday, hitting $58.03. The stock had a trading volume of 2,126,897 shares. WEC Energy Group Inc. has a 1-year low of $47.98 and a 1-year high of $66.10. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 19.91 and a beta of 0.06. The company has a 50-day moving average of $57.28 and a 200-day moving average of $60.69.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.08. The business earned $1.71 billion during the quarter, compared to the consensus estimate of $2.15 billion. WEC Energy Group had a return on equity of 10.76% and a net margin of 12.58%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. Equities research analysts forecast that WEC Energy Group Inc. will post $2.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.98 annualized dividend and a yield of 3.41%. WEC Energy Group’s dividend payout ratio (DPR) is presently 68.04%.
WEC has been the subject of several analyst reports. Guggenheim initiated coverage on WEC Energy Group in a research report on Thursday, November 3rd. They set a “buy” rating and a $63.00 target price for the company. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday, October 19th. Argus reiterated a “buy” rating and issued a $70.00 price objective (up previously from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research report on Wednesday, November 9th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $61.78.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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