Retirement Systems of Alabama boosted its stake in shares of WEC Energy Group Inc. (NYSE:WEC) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 160,920 shares of the company’s stock after buying an additional 1,261 shares during the period. Retirement Systems of Alabama’s holdings in WEC Energy Group were worth $10,508,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Advisor Partners LLC boosted its position in shares of WEC Energy Group by 1.7% in the first quarter. Advisor Partners LLC now owns 4,709 shares of the company’s stock valued at $283,000 after buying an additional 78 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of WEC Energy Group by 1.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,515 shares of the company’s stock valued at $425,000 after buying an additional 85 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of WEC Energy Group by 1.4% in the first quarter. Peapack Gladstone Financial Corp now owns 9,395 shares of the company’s stock valued at $564,000 after buying an additional 129 shares during the last quarter. Chesley Taft & Associates LLC raised its stake in shares of WEC Energy Group by 2.1% in the second quarter. Chesley Taft & Associates LLC now owns 7,385 shares of the company’s stock valued at $482,000 after buying an additional 150 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in shares of WEC Energy Group by 1.0% in the first quarter. Cleararc Capital Inc. now owns 21,325 shares of the company’s stock valued at $1,281,000 after buying an additional 221 shares during the last quarter. 70.65% of the stock is owned by institutional investors.
WEC Energy Group Inc. (NYSE:WEC) traded down 0.23% during midday trading on Wednesday, reaching $57.30. 2,929,107 shares of the company were exchanged. WEC Energy Group Inc. has a 52 week low of $47.98 and a 52 week high of $66.10. The company has a 50-day moving average of $60.67 and a 200 day moving average of $61.08. The firm has a market capitalization of $18.08 billion, a PE ratio of 20.46 and a beta of 0.08.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The company earned $1.60 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a net margin of 12.13% and a return on equity of 10.52%. The firm’s quarterly revenue was up 61.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS. Equities analysts predict that WEC Energy Group Inc. will post $2.93 earnings per share for the current year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Argus reiterated a “buy” rating and set a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.25.
In related news, VP Susan H. Martin sold 40,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.05, for a total value of $2,602,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert M. Garvin sold 19,225 shares of the stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $61.62, for a total transaction of $1,184,644.50. Following the completion of the sale, the executive vice president now directly owns 27,710 shares of the company’s stock, valued at $1,707,490.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group Inc. (NYSE:WEC).
Receive News & Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.