Toronto Dominion Bank Boosts Holdings in WEC Energy Group Inc (WEC)

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Toronto Dominion Bank boosted its position in shares of WEC Energy Group Inc (NYSE:WEC) by 17.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,030 shares of the utilities provider’s stock after buying an additional 30,653 shares during the quarter. Toronto Dominion Bank’s holdings in WEC Energy Group were worth $16,210,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cox Capital Mgt LLC raised its position in shares of WEC Energy Group by 2.7% during the 4th quarter. Cox Capital Mgt LLC now owns 5,502 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 143 shares during the last quarter. 1ST Source Bank raised its position in shares of WEC Energy Group by 3.6% during the 1st quarter. 1ST Source Bank now owns 4,138 shares of the utilities provider’s stock valued at $327,000 after acquiring an additional 144 shares during the last quarter. Somerset Trust Co raised its position in shares of WEC Energy Group by 0.6% during the 1st quarter. Somerset Trust Co now owns 26,688 shares of the utilities provider’s stock valued at $2,111,000 after acquiring an additional 168 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of WEC Energy Group by 3.0% during the 4th quarter. IHT Wealth Management LLC now owns 5,802 shares of the utilities provider’s stock valued at $402,000 after acquiring an additional 170 shares during the last quarter. Finally, Gofen & Glossberg LLC IL raised its position in shares of WEC Energy Group by 0.4% during the 1st quarter. Gofen & Glossberg LLC IL now owns 42,889 shares of the utilities provider’s stock valued at $3,392,000 after acquiring an additional 171 shares during the last quarter. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have commented on the stock. Wolfe Research set a $77.00 target price on shares of WEC Energy Group and gave the company a “sell” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Goldman Sachs Group cut shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $71.00 to $70.00 in a research report on Monday, April 8th. Argus upped their target price on shares of WEC Energy Group to $85.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, Credit Suisse Group upped their target price on shares of WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. WEC Energy Group currently has a consensus rating of “Hold” and a consensus target price of $74.33.

Shares of WEC traded up $0.51 during trading hours on Friday, reaching $80.76. The stock had a trading volume of 30,921 shares, compared to its average volume of 1,700,193. The company has a quick ratio of 0.51, a current ratio of 0.67 and a debt-to-equity ratio of 1.02. WEC Energy Group Inc has a 52 week low of $58.48 and a 52 week high of $80.44. The stock has a market cap of $25.31 billion, a P/E ratio of 24.16, a P/E/G ratio of 5.04 and a beta of 0.16.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts expect that WEC Energy Group Inc will post 3.52 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio is currently 70.66%.

In related news, Director Barbara L. Bowles sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $78.35, for a total value of $156,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gale E. Klappa sold 130,784 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $75.94, for a total transaction of $9,931,736.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 350,899 shares of company stock valued at $26,491,087. 0.75% of the stock is owned by corporate insiders.

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WEC Energy Group 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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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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