Smithfield Trust Co. held its stake in WEC Energy Group Inc. (NYSE:WEC) during the second quarter, Holdings Channel reports. The firm owned 4,630 shares of the company’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in WEC Energy Group were worth $302,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in WEC Energy Group by 7.3% in the first quarter. State Street Corp now owns 15,271,745 shares of the company’s stock worth $917,370,000 after buying an additional 1,042,287 shares during the period. Bank of Montreal Can purchased a new stake in WEC Energy Group during the second quarter worth $38,722,000. Adage Capital Partners GP L.L.C. purchased a new stake in WEC Energy Group during the first quarter worth $28,815,000. Renaissance Technologies LLC increased its stake in WEC Energy Group by 687.7% in the first quarter. Renaissance Technologies LLC now owns 232,402 shares of the company’s stock worth $13,960,000 after buying an additional 202,900 shares during the period. Finally, Wellington Management Group LLP increased its stake in WEC Energy Group by 20.0% in the first quarter. Wellington Management Group LLP now owns 1,066,942 shares of the company’s stock worth $64,091,000 after buying an additional 177,978 shares during the period. 70.65% of the stock is currently owned by institutional investors and hedge funds.
WEC Energy Group Inc. (NYSE:WEC) traded up 0.38% on Tuesday, hitting $58.26. 665,271 shares of the stock were exchanged. The company has a market capitalization of $18.39 billion, a PE ratio of 20.80 and a beta of 0.08. The company has a 50-day moving average price of $59.84 and a 200 day moving average price of $60.99. WEC Energy Group Inc. has a 1-year low of $47.98 and a 1-year high of $66.10.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $2.03 billion. WEC Energy Group had a net margin of 12.13% and a return on equity of 10.52%. The business’s revenue was up 61.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. Analysts anticipate that WEC Energy Group Inc. will post $2.93 EPS for the current fiscal year.
WEC has been the topic of a number of recent research reports. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Argus reaffirmed a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $58.25.
In other WEC Energy Group news, VP Susan H. Martin sold 40,000 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Also, EVP Robert M. Garvin sold 19,225 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $61.62, for a total transaction of $1,184,644.50. Following the completion of the transaction, the executive vice president now directly owns 27,710 shares in the company, valued at $1,707,490.20. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company 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.
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