Pitcairn Co. lifted its position in shares of WEC Energy Group Inc (NYSE:WEC) by 62.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,527 shares of the utilities provider’s stock after acquiring an additional 2,131 shares during the quarter. Pitcairn Co.’s holdings in WEC Energy Group were worth $367,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Koch Industries Inc. acquired a new position in WEC Energy Group during the 4th quarter worth about $317,000. ETRADE Capital Management LLC raised its position in shares of WEC Energy Group by 27.3% in the 4th quarter. ETRADE Capital Management LLC now owns 43,484 shares of the utilities provider’s stock worth $2,889,000 after acquiring an additional 9,320 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of WEC Energy Group by 86.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 920,714 shares of the utilities provider’s stock worth $61,163,000 after acquiring an additional 425,804 shares in the last quarter. W. E. Donoghue & Co. LLC raised its position in shares of WEC Energy Group by 14.3% in the 4th quarter. W. E. Donoghue & Co. LLC now owns 38,643 shares of the utilities provider’s stock worth $2,567,000 after acquiring an additional 4,822 shares in the last quarter. Finally, Haverford Trust Co. bought a new position in shares of WEC Energy Group in the 4th quarter worth about $202,000. 72.90% of the stock is currently owned by institutional investors.
In other news, Director Barbara L. Bowles sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total value of $120,380.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by insiders.
Shares of WEC Energy Group Inc (NYSE:WEC) traded up $0.50 on Wednesday, reaching $61.30. The company’s stock had a trading volume of 1,780,169 shares, compared to its average volume of 1,951,121. WEC Energy Group Inc has a 1 year low of $58.92 and a 1 year high of $70.09. The company 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. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share 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 firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. analysts expect that WEC Energy Group Inc will post 3.3 earnings per share for the current year.
WEC has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $66.00 price objective on shares of WEC Energy Group in a research report on Friday, February 23rd. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Saturday, January 6th. Wells Fargo & Co decreased their target price on 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. Credit Suisse Group reaffirmed a “neutral” rating and issued a $63.00 target price (down from $65.00) on shares of WEC Energy Group in a research report on Friday, February 23rd. Finally, UBS Group began coverage on WEC Energy Group in a research report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $66.00.
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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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