Trade Report: Today, TD Asset Management Inc. cuts position of WEC Energy Group Inc. (WEC)

Today, TD Asset Management Inc. cuts position of WEC Energy Group Inc. (WEC)

TD Asset Management Inc. cut its position in WEC Energy Group Inc. (NYSE:WEC) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,675 shares of the company’s stock after selling 44,919 shares during the period. TD Asset Management Inc. owned approximately 0.26% of WEC Energy Group worth $49,381,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in WEC Energy Group by 687.7% in the first quarter. Renaissance Technologies LLC now owns 232,402 shares of the company’s stock worth $13,960,000 after buying an additional 202,900 shares during the last quarter. Panagora Asset Management Inc. raised its stake in WEC Energy Group by 129.8% in the first quarter. Panagora Asset Management Inc. now owns 120,261 shares of the company’s stock worth $7,224,000 after buying an additional 67,930 shares during the last quarter. Euclid Advisors LLC raised its stake in WEC Energy Group by 575.5% in the first quarter. Euclid Advisors LLC now owns 72,480 shares of the company’s stock worth $4,354,000 after buying an additional 61,750 shares during the last quarter. Laffer Investments raised its stake in WEC Energy Group by 8.9% in the first quarter. Laffer Investments now owns 13,486 shares of the company’s stock worth $810,000 after buying an additional 1,102 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its stake in WEC Energy Group by 75.6% in the first quarter. First Republic Investment Management Inc. now owns 8,803 shares of the company’s stock worth $528,000 after buying an additional 3,789 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

WEC Energy Group Inc. (NYSE:WEC) traded up 1.51% during trading on Friday, reaching $56.56. 662,139 shares of the company’s stock traded hands. WEC Energy Group Inc. has a one year low of $47.98 and a one year high of $66.10. The firm’s 50 day moving average price is $57.28 and its 200-day moving average price is $60.72. The stock has a market cap of $17.85 billion, a P/E ratio of 19.41 and a beta of 0.06.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.69 earnings per share for the quarter, topping the 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 net margin of 12.58% and a return on equity of 10.76%. The company’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. On average, equities analysts anticipate that WEC Energy Group Inc. will post $2.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 14th will be given a dividend of $0.495 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.98 annualized dividend and a dividend yield of 3.50%. WEC Energy Group’s dividend payout ratio is presently 68.04%.

WEC has been the topic of a number of research reports. 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 note on Tuesday, August 2nd. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, September 16th. Guggenheim initiated coverage on shares of WEC Energy Group in a research note on Thursday, November 3rd. They issued a “buy” rating and a $63.00 price objective on the stock. Finally, KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a research note on Wednesday, November 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.40.

About WEC Energy Group

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