Hennessy Advisors Inc. boosted its stake in WEC Energy Group Inc. (NYSE:WEC) by 12.8% during the third quarter, Holdings Channel reports. The firm owned 844,590 shares of the company’s stock after buying an additional 96,000 shares during the period. WEC Energy Group comprises about 1.4% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 12th largest position. Hennessy Advisors Inc.’s holdings in WEC Energy Group were worth $50,574,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Management increased its stake in WEC Energy Group by 0.3% in the second quarter. Integrated Wealth Management now owns 4,338 shares of the company’s stock valued at $283,000 after buying an additional 11 shares during the last quarter. Hudock Capital Group LLC raised its position in WEC Energy Group by 0.4% in the second quarter. Hudock Capital Group LLC now owns 4,256 shares of the company’s stock valued at $277,000 after buying an additional 16 shares during the period. Gradient Investments LLC raised its position in WEC Energy Group by 0.5% in the third quarter. Gradient Investments LLC now owns 4,216 shares of the company’s stock valued at $252,000 after buying an additional 23 shares during the period. WFG Advisors LP raised its position in WEC Energy Group by 0.6% in the second quarter. WFG Advisors LP now owns 4,422 shares of the company’s stock valued at $289,000 after buying an additional 27 shares during the period. Finally, Personal Capital Advisors Corp raised its position in WEC Energy Group by 1.4% in the second quarter. Personal Capital Advisors Corp now owns 3,627 shares of the company’s stock valued at $237,000 after buying an additional 50 shares during the period. 68.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WEC Energy Group Inc. (NYSE:WEC) traded up 2.3340% during trading on Monday, hitting $57.8801. 986,952 shares of the stock were exchanged. The firm’s 50-day moving average is $57.25 and its 200 day moving average is $60.70. WEC Energy Group Inc. has a 1-year low of $47.98 and a 1-year high of $66.10. The company has a market cap of $18.27 billion, a P/E ratio of 19.8628 and a beta of 0.06.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, October 26th. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.08. WEC Energy Group had a return on equity of 10.76% and a net margin of 12.58%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts forecast that WEC Energy Group Inc. will post $2.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 14th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, November 9th. WEC Energy Group’s dividend payout ratio (DPR) is 68.04%.
A number of research analysts have issued reports on the stock. Argus reissued a “buy” rating and set a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a research note on Tuesday, August 2nd. Zacks Investment Research downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, September 16th. Guggenheim assumed coverage on shares of WEC Energy Group in a report on Thursday, November 3rd. They issued a “buy” rating and a $63.00 target price on the stock. Finally, KeyCorp reiterated a “hold” rating on shares of WEC Energy Group in a report on Wednesday, November 9th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $61.78.
About WEC Energy Group
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.