Quantitative Investment Management LLC lowered its holdings in WEC Energy Group Inc (NYSE:WEC) by 65.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,700 shares of the utilities provider’s stock after selling 118,000 shares during the period. Quantitative Investment Management LLC’s holdings in WEC Energy Group were worth $4,098,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in WEC. Wells Fargo & Company MN grew its position in shares of WEC Energy Group by 36.6% in the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock valued at $462,486,000 after purchasing an additional 1,972,929 shares during the period. APG Asset Management N.V. grew its position in WEC Energy Group by 170.9% during the fourth quarter. APG Asset Management N.V. now owns 2,403,530 shares of the utilities provider’s stock valued at $132,967,000 after acquiring an additional 1,516,384 shares during the period. Renaissance Technologies LLC grew its position in WEC Energy Group by 33.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,784,802 shares of the utilities provider’s stock valued at $184,994,000 after acquiring an additional 700,200 shares during the period. Ameriprise Financial Inc. grew its position in WEC Energy Group by 28.9% during the third quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock valued at $178,873,000 after acquiring an additional 638,010 shares during the period. Finally, BlackRock Inc. grew its position in WEC Energy Group by 2.1% during the fourth quarter. BlackRock Inc. now owns 26,807,670 shares of the utilities provider’s stock valued at $1,780,834,000 after acquiring an additional 560,644 shares during the period. 72.96% of the stock is owned by institutional investors and hedge funds.
In other news, Director Barbara L. Bowles sold 2,000 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is owned by corporate insiders.
Shares of NYSE WEC traded down $0.33 on Friday, hitting $63.04. The company had a trading volume of 1,633,835 shares, compared to its average volume of 1,903,432. WEC Energy Group Inc has a 12-month low of $58.92 and a 12-month high of $70.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. The company has a market capitalization of $19,996.06, a price-to-earnings ratio of 20.08, a PEG ratio of 4.55 and a beta of 0.07.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 quarter in the prior year, the business earned $0.61 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. research analysts expect that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
WEC has been the subject of a number of research reports. Guggenheim reissued a “buy” rating and set a $73.00 price target on shares of WEC Energy Group in a research report on Wednesday, January 3rd. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Saturday, January 6th. Wells Fargo lowered their price target 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. UBS initiated coverage on WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target for the company. Finally, Credit Suisse Group reissued a “neutral” rating and set a $63.00 price target (down previously from $65.00) on shares of WEC Energy Group in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. WEC Energy Group has a consensus rating of “Hold” and an average target price of $66.00.
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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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