HPM Partners LLC boosted its stake in WEC Energy Group Inc (NYSE:WEC) by 25.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,869 shares of the utilities provider’s stock after purchasing an additional 1,779 shares during the quarter. HPM Partners LLC’s holdings in WEC Energy Group were worth $589,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC grew its stake in WEC Energy Group by 1.5% during the fourth quarter. Guggenheim Capital LLC now owns 760,428 shares of the utilities provider’s stock worth $50,514,000 after buying an additional 10,929 shares during the period. QS Investors LLC grew its stake in WEC Energy Group by 11.5% during the fourth quarter. QS Investors LLC now owns 231,501 shares of the utilities provider’s stock worth $15,379,000 after buying an additional 23,871 shares during the period. Franklin Resources Inc. grew its stake in WEC Energy Group by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 2,198,705 shares of the utilities provider’s stock worth $146,060,000 after buying an additional 22,887 shares during the period. Advisor Group Inc. grew its stake in WEC Energy Group by 29.2% during the fourth quarter. Advisor Group Inc. now owns 87,461 shares of the utilities provider’s stock worth $5,813,000 after buying an additional 19,771 shares during the period. Finally, Aristotle Atlantic Partners LLC purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $528,000. Hedge funds and other institutional investors own 72.90% of the company’s stock.
Several equities research analysts have issued reports on WEC shares. Credit Suisse Group initiated coverage on shares of WEC Energy Group in a research note on Thursday, December 7th. They set a “neutral” rating and a $70.00 price objective for the company. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Saturday, January 6th. Bank of America upped their target price on shares of WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. Wells Fargo & Co decreased their target price on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating for the company in a research note on Thursday, February 1st. Finally, UBS Group initiated coverage on shares of WEC Energy Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.00.
Shares of WEC Energy Group Inc (NYSE:WEC) opened at $60.80 on Wednesday. The stock has a market cap of $19,213.51, a price-to-earnings ratio of 19.39, a P/E/G ratio of 4.37 and a beta of 0.12. The company has a quick ratio of 0.43, a current ratio of 0.57 and a debt-to-equity ratio of 0.92. WEC Energy Group Inc has a twelve month low of $58.92 and a twelve month high of $70.09.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. equities analysts predict that WEC Energy Group Inc will post 3.3 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “WEC Energy Group Inc (WEC) Position Raised by HPM Partners LLC” was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/3261816/wec-energy-group-inc-wec-position-raised-by-hpm-partners-llc.html.
About WEC Energy Group
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.