Mackenzie Financial Corp acquired a new stake in WEC Energy Group Inc (NYSE:WEC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 148,262 shares of the utilities provider’s stock, valued at approximately $9,849,000.
A number of other large investors also recently modified their holdings of the stock. Becker Capital Management Inc. lifted its position in shares of WEC Energy Group by 17.8% during the third quarter. Becker Capital Management Inc. now owns 5,181 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 781 shares in the last quarter. Sii Investments Inc. WI raised its position in WEC Energy Group by 6.8% in the third quarter. Sii Investments Inc. WI now owns 12,899 shares of the utilities provider’s stock worth $812,000 after acquiring an additional 820 shares during the period. ARGI Investment Services LLC raised its position in WEC Energy Group by 5.9% in the third quarter. ARGI Investment Services LLC now owns 15,010 shares of the utilities provider’s stock worth $942,000 after acquiring an additional 834 shares during the period. Rockland Trust Co. increased its stake in shares of WEC Energy Group by 7.8% in the fourth quarter. Rockland Trust Co. now owns 11,957 shares of the utilities provider’s stock worth $794,000 after purchasing an additional 869 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of WEC Energy Group by 0.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 97,653 shares of the utilities provider’s stock worth $6,487,000 after purchasing an additional 896 shares in the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.
In other WEC Energy Group news, Director Barbara L. Bowles sold 2,000 shares of WEC Energy Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total value of $120,380.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.97% of the company’s stock.
WEC has been the subject of several recent analyst reports. Guggenheim reaffirmed a “buy” rating and set a $73.00 price objective on shares of WEC Energy Group in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Saturday, January 13th. Bank of America boosted their price objective on shares of WEC Energy Group from $69.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, November 15th. Wells Fargo & Co lowered their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a report on Thursday, February 1st. Finally, Credit Suisse Group reissued a “neutral” rating and set a $63.00 price objective (down from $65.00) on shares of WEC Energy Group in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.00.
Shares of WEC Energy Group Inc (WEC) traded up $0.50 on Wednesday, reaching $61.30. 1,780,169 shares of the company’s stock were exchanged, compared to its average volume of 1,951,121. WEC Energy Group Inc has a twelve month low of $58.92 and a twelve month high of $70.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.43 and a current ratio of 0.57. The stock has a market cap of $19,340.00, a price-to-earnings ratio of 19.52, a P/E/G ratio of 4.37 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.61 earnings per share. WEC Energy Group’s revenue was up 4.7% on a year-over-year basis. equities research analysts expect that WEC Energy Group Inc will post 3.3 EPS for the current year.
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About WEC Energy Group
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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