CIBC World Markets Inc. purchased a new position in shares of WEC Energy Group Inc (NYSE:WEC) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 53,427 shares of the utilities provider’s stock, valued at approximately $3,350,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in WEC Energy Group by 5.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,016 shares of the utilities provider’s stock worth $2,822,000 after acquiring an additional 2,294 shares during the last quarter. Well Done LLC acquired a new position in WEC Energy Group during the first quarter worth about $144,000. Federated Investors Inc. PA boosted its position in WEC Energy Group by 3,162.3% during the first quarter. Federated Investors Inc. PA now owns 203,305 shares of the utilities provider’s stock worth $12,747,000 after acquiring an additional 197,073 shares during the last quarter. MayTech Global Investments LLC acquired a new position in WEC Energy Group in the 4th quarter valued at about $1,256,000. Finally, Macquarie Group Ltd. boosted its holdings in WEC Energy Group by 4.0% in the 4th quarter. Macquarie Group Ltd. now owns 238,633 shares of the utilities provider’s stock valued at $10,493,000 after purchasing an additional 9,200 shares during the last quarter. Hedge funds and other institutional investors own 72.96% of the company’s stock.
WEC Energy Group opened at $62.29 on Monday, Marketbeat.com reports. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 4.55 and a beta of 0.08. WEC Energy Group Inc has a 1-year low of $58.48 and a 1-year high of $70.09.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Monday, May 14th were issued a $0.5525 dividend. The ex-dividend date was Friday, May 11th. This represents a $2.21 annualized dividend and a dividend yield of 3.55%. WEC Energy Group’s dividend payout ratio is currently 70.38%.
In other news, Director Ulice Payne, Jr. sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $64.45, for a total value of $103,120.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.97% of the company’s stock.
WEC has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, April 7th. Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a report on Wednesday, May 23rd. Citigroup initiated coverage on shares of WEC Energy Group in a report on Friday, April 13th. They issued a “neutral” rating and a $61.00 target price on the stock. Credit Suisse Group boosted their target price on shares of WEC Energy Group from $65.00 to $67.00 and gave the company a “neutral” rating in a report on Wednesday, May 2nd. Finally, ValuEngine lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, June 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.13.
WEC Energy Group Company 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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