Raymond James & Associates reduced its position in shares of WEC Energy Group Inc (NYSE:WEC) by 19.0% in the 4th quarter, HoldingsChannel reports. The firm owned 755,397 shares of the utilities provider’s stock after selling 177,017 shares during the period. Raymond James & Associates’ holdings in WEC Energy Group were worth $50,181,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WEC. Advisory Services Network LLC raised its position in WEC Energy Group by 157.2% during the fourth quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock valued at $112,000 after purchasing an additional 1,033 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $122,000. Hanson & Doremus Investment Management acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $133,000. Calton & Associates Inc. acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $175,000. Finally, Crewe Advisors LLC acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $193,000. Institutional investors and hedge funds own 72.90% of the company’s stock.
Several brokerages have commented on WEC. Guggenheim restated a “buy” rating and set a $66.00 price objective on shares of WEC Energy Group in a research report on Friday, February 23rd. Credit Suisse Group restated 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. UBS Group began coverage on shares of WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price objective for the company. Wells Fargo & Co lowered their price objective on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a research report on Thursday, February 1st. Finally, Zacks Investment Research downgraded shares of WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research report on Sunday, January 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $66.00.
WEC Energy Group Inc (NYSE WEC) opened at $60.80 on Wednesday. The stock has a market cap of $19,213.51, a price-to-earnings ratio of 19.39, a PEG ratio of 4.37 and a beta of 0.12. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.43 and a current ratio of 0.57. WEC Energy Group Inc has a 1-year low of $58.92 and a 1-year high of $70.09.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. research analysts predict that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
In other news, Director Barbara L. Bowles sold 2,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $60.19, for a total transaction of $120,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.
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WEC Energy Group Company Profile
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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