Economy

WEC Energy Group, Stake Acquired By Summit Global Investments

Penobscot Investment Management Company Inc. now owns 57,531 shares of the utilities provider's stock worth $3,531,000 after purchasing an additional 960 shares during the period. BlackRock Inc. grew its holdings in WEC Energy Group by 0.3% in the second quarter.

Several other hedge funds have also made changes to their positions in the stock. Edge Asset Management, Inc expanded its position by buying 27,372 shares an increase of 1.7% from 12/31/2016 to 03/31/2017. Ahl Partners Llp now owns 190,283 shares worth $11,680,000.

WEC Energy Group (NYSE:WEC) previously announced its fiscal periodic earnings information on early Wed, Jul 26th. Hennessy Advisors Inc. now owns 808,590 shares of the utilities provider's stock valued at $49,025,000 after purchasing an additional 13,000 shares in the last quarter. State Street Corp lifted its holdings in WEC Energy Group by 1.2% during the first quarter. Shell Asset Management Co. now owns 36,628 shares of the utilities provider's stock valued at $2,221,000 after purchasing an additional 2,565 shares in the last quarter. Bank of America Corp DE now owns 5,169,348 shares of the utilities provider's stock valued at $313,418,000 after purchasing an additional 304,020 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in WEC Energy Group by 1.8% during the first quarter.

Want to see what other hedge funds are holding WEC? Tableau Software had 109 analyst reports since July 24, 2015 according to SRatingsIntel. Gemmer Asset Limited Liability holds 0% of its portfolio in WEC Energy Group Inc (NYSE:WEC) for 159 shares. KeyCorp reiterated a "hold" rating on shares of WEC Energy Group in a research report on Friday, September 1st. BidaskClub upgraded WEC Energy Group from a "hold" rating to a "buy" rating in a report on Tuesday, August 22nd. Goldman Sachs upgraded the stock to "Conviction Buy List" rating in Monday, August 31 report. Ladenburg Thalmann Financial Services increased their target price on WEC Energy Group from $62.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, June 9th. 4 brokers rating the stock a strong buy, 2 firms rating the stock a buy, 8 firms rating the stock a hold, 1 brokerage rating the stock a underperform, and finally 0 brokers rating the stock a sell with a consensus target price of $59.15. If you are accessing this story on another publication, it was illegally copied and reposted in violation of USA and global copyright and trademark legislation. Prudential Public Limited Company stated it has 0% in WEC Energy Group Inc (NYSE:WEC). (NYSE WEC) opened at 65.63 on Wednesday. Eqis has invested 0.06% of its portfolio in WEC Energy Group Inc (NYSE:WEC). The stock has a market cap of $18.16 billion, a P/E ratio of 19.44 and a beta of 0.06.

The stock is trading at $67.04 which is a tad above the 50 day moving average of $64.37 and which is just over the 200 day moving average of $62.02. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.58 by $0.05.

A total of 10 equity analysts have released a research note on WEC. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. This is a boost from WEC Energy Group's previous quarterly dividend of $0.50. On average, equities analysts predict that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year. Ashford Cap invested in 0.09% or 7,313 shares. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.61%. Nasdaq.com's news article titled: "Why Is WEC Energy (WEC) Up 4.4% Since the Last Earnings Report?" with publication date: August 29, 2017 was also an interesting one. WEC Energy Group's dividend payout ratio (DPR) is 70.51%.

In other WEC Energy Group news, VP Susan H. Martin sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, September 7th. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott J. Lauber unloaded 1,500 stocks of the firms shares in a trade dated Wed, Aug 23rd. The stock was unloaded at a price range of of $64.42, amounting to $6,474,210.00. Price Michael F owns 3.20 million shares or 1.78% of their USA portfolio. The disclosure for this sale can be found here. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. Wisconsin includes the electric and natural gas utility activities of Wisconsin Electric Power Company, Wisconsin Gas LLC, and Wisconsin Public Service Corporation, including WE's and WPS's electric and natural gas activities in the state of MI. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.



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