Jefferies Group LLC trimmed its position in shares of WEC Energy Group Inc (NYSE:WEC) by 24.0% during the fourth quarter, HoldingsChannel reports. The firm owned 40,561 shares of the utilities provider’s stock after selling 12,841 shares during the quarter. Jefferies Group LLC’s holdings in WEC Energy Group were worth $2,694,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted 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 worth $1,780,834,000 after purchasing an additional 560,644 shares in the last quarter. Wells Fargo & Company MN boosted its position in WEC Energy Group by 36.6% during the third quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after purchasing an additional 1,972,929 shares in the last quarter. Geode Capital Management LLC boosted its position in WEC Energy Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,448,049 shares of the utilities provider’s stock worth $228,591,000 after purchasing an additional 86,161 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in WEC Energy Group by 7.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,959,532 shares of the utilities provider’s stock worth $196,602,000 after purchasing an additional 201,585 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted 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 worth $178,873,000 after purchasing an additional 638,010 shares in the last quarter. Institutional investors own 72.90% of the company’s stock.
WEC has been the topic of a number of research analyst reports. Credit Suisse Group started coverage on WEC Energy Group in a research report on Thursday, December 7th. They set a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Saturday, January 6th. Bank of America upped their price objective on WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, November 15th. Wells Fargo & Co reduced their price objective on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. Finally, UBS Group started coverage on WEC Energy Group in a research report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $66.00.
Shares of WEC Energy Group Inc (NYSE WEC) opened at $60.55 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. WEC Energy Group Inc has a 12-month low of $58.29 and a 12-month high of $70.09. The stock has a market capitalization of $19,106.22, a price-to-earnings ratio of 19.28, a PEG ratio of 4.34 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.94 billion. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. sell-side analysts anticipate that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
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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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