Tiaa Fsb lessened its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 16.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,118 shares of the utilities provider’s stock after selling 4,503 shares during the quarter. Tiaa Fsb’s holdings in WEC Energy Group were worth $1,829,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. We Are One Seven LLC bought a new stake in WEC Energy Group during the 4th quarter valued at $30,000. Essex Investment Management Co. LLC bought a new stake in WEC Energy Group during the 4th quarter valued at $30,000. ERTS Wealth Advisors LLC bought a new stake in WEC Energy Group during the 4th quarter valued at $30,000. Arbor Wealth Management LLC bought a new stake in WEC Energy Group during the 4th quarter valued at $32,000. Finally, Kings Point Capital Management bought a new stake in WEC Energy Group during the 4th quarter valued at $34,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.
WEC has been the subject of a number of recent analyst reports. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Wells Fargo & Co raised their price objective on WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Argus raised their price objective on WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $71.00 to $70.00 in a research report on Monday, April 8th. Finally, Credit Suisse Group raised their price objective on WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.70.
In related news, insider Tom Metcalfe sold 13,675 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $75.72, for a total value of $1,035,471.00. Following the completion of the transaction, the insider now owns 20,304 shares in the company, valued at approximately $1,537,418.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allen L. Leverett sold 112,250 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $74.35, for a total value of $8,345,787.50. Following the completion of the transaction, the director now owns 151,589 shares of the company’s stock, valued at approximately $11,270,642.15. The disclosure for this sale can be found here. Insiders sold a total of 456,668 shares of company stock valued at $34,330,208 in the last 90 days. 0.75% of the stock is currently owned by company insiders.
Shares of WEC stock opened at $76.46 on Wednesday. The firm has a market capitalization of $24.12 billion, a P/E ratio of 22.89, a PEG ratio of 5.04 and a beta of 0.16. 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 1 year low of $58.48 and a 1 year high of $80.05.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.96 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Analysts forecast that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.
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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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