Royal Bank of Canada increased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 293,464 shares of the utilities provider’s stock after buying an additional 24,162 shares during the period. Royal Bank of Canada owned 0.09% of WEC Energy Group worth $18,014,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WEC. AXA boosted its holdings in WEC Energy Group by 1.8% in the 1st quarter. AXA now owns 53,056 shares of the utilities provider’s stock worth $3,217,000 after buying an additional 956 shares during the period. MAI Capital Management bought a new position in WEC Energy Group in the 1st quarter worth approximately $253,000. Oarsman Capital Inc. boosted its holdings in WEC Energy Group by 260.4% in the 1st quarter. Oarsman Capital Inc. now owns 33,824 shares of the utilities provider’s stock worth $2,051,000 after buying an additional 24,439 shares during the period. Motley Fool Wealth Management LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $1,162,000. Finally, BB&T Securities LLC boosted its holdings in WEC Energy Group by 4.1% in the 1st quarter. BB&T Securities LLC now owns 15,860 shares of the utilities provider’s stock worth $961,000 after buying an additional 625 shares during the period. 70.24% of the stock is owned by institutional investors.
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Several research analysts recently commented on the stock. BidaskClub raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $62.50.
WEC Energy Group, Inc. (NYSE WEC) opened at 65.57 on Friday. The firm has a 50-day moving average of $64.80 and a 200 day moving average of $62.81. WEC Energy Group, Inc. has a one year low of $53.66 and a one year high of $67.20. The company has a market capitalization of $20.69 billion, a P/E ratio of 21.50 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, equities analysts forecast that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
In related news, VP Susan H. Martin sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gale E. Klappa sold 100,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Insiders sold a total of 192,190 shares of company stock worth $12,435,484 in the last ninety days. 0.97% of the stock is currently owned by insiders.
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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