Ellenbecker Investment Group raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,044 shares of the utilities provider’s stock after purchasing an additional 922 shares during the quarter. WEC Energy Group accounts for 0.6% of Ellenbecker Investment Group’s portfolio, making the stock its 23rd largest position. Ellenbecker Investment Group’s holdings in WEC Energy Group were worth $1,689,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Magellan Asset Management Ltd grew its stake in WEC Energy Group by 2.6% during the 4th quarter. Magellan Asset Management Ltd now owns 22,508,662 shares of the utilities provider’s stock valued at $2,071,472,000 after purchasing an additional 579,088 shares in the last quarter. Wells Fargo & Company MN grew its stake in WEC Energy Group by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,496,628 shares of the utilities provider’s stock valued at $689,915,000 after purchasing an additional 148,370 shares in the last quarter. Bank of New York Mellon Corp grew its stake in WEC Energy Group by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,755,694 shares of the utilities provider’s stock valued at $253,608,000 after purchasing an additional 75,050 shares in the last quarter. Nuveen Asset Management LLC grew its stake in WEC Energy Group by 1.6% during the 3rd quarter. Nuveen Asset Management LLC now owns 2,573,326 shares of the utilities provider’s stock valued at $249,355,000 after purchasing an additional 41,328 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of WEC Energy Group by 4.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,858,041 shares of the utilities provider’s stock worth $170,995,000 after acquiring an additional 80,483 shares in the last quarter. Hedge funds and other institutional investors own 73.05% of the company’s stock.
Shares of NYSE WEC traded down $0.31 during mid-day trading on Thursday, hitting $93.11. The company had a trading volume of 11,026 shares, compared to its average volume of 1,427,480. The stock has a market cap of $29.37 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 4.51 and a beta of 0.18. WEC Energy Group, Inc. has a 12 month low of $80.55 and a 12 month high of $106.85. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.49 and a quick ratio of 0.36. The firm’s 50 day simple moving average is $87.45 and its two-hundred day simple moving average is $92.45.
WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, February 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $2.10 billion. WEC Energy Group had a return on equity of 11.36% and a net margin of 16.26%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Equities analysts forecast that WEC Energy Group, Inc. will post 3.75 earnings per share for the current year.
Several research analysts have recently commented on the company. Wells Fargo & Company upgraded WEC Energy Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $94.00 to $93.00 in a research report on Wednesday, March 10th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 target price for the company in a research report on Wednesday, January 13th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $94.09.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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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