Wisconsin Energy Corp. stock has been surging to record highs in recent weeks as investors have flocked to so-called defensive stocks, but the go-go run may be ending.
A story Monday in The Wall Street Journal included the Milwaukee-based parent company of We Energies (NYSE: WEC) in a story on the popularity of stocks from stable companies that pay healthy dividends. The story said investors have flocked to such stocks as relief from market uncertainty but now that prices have ascended, experts are raising ?questions about whether they have run too far."
?Wisconsin Energy pays a dividend yield of almost 3 percent, twice as much yield as a 10-year Treasury,? the Journal said.
Wisconsin Energy shares rose 15 percent in the past three months, the Journal noted. The stock hit a high of $41.29 on July 19, which was up $5.81 from its closing price three months earlier. Wisconsin Energy closed at $41.01 on July 20.
On Monday after The Wall Street Journal report appeared, Wisconsin Energy started declining and was down 20 cents, at $40.96, in morning trading.
Rich Kirchen is The Business Journal's senior reporter. He covers banking, financial services, politics, media and marketing/advertising.
Follow your favorites with My News
My News is a way to create a customized news feed based on companies and industries that matter to you.
gone with the wind michael jordan checkers imbibe msg network ray j anthony shadid
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.