Traders Sell Shares of WEC Energy Group (WEC) on Strength (WEC)

Investors sold shares of WEC Energy Group Inc (NYSE:WEC) on strength during trading on Thursday. $13.40 million flowed into the stock on the tick-up and $32.21 million flowed out of the stock on the tick-down, for a money net flow of $18.81 million out of the stock. Of all equities tracked, WEC Energy Group had the 0th highest net out-flow for the day. WEC Energy Group traded up $0.13 for the day and closed at $61.42

A number of research firms recently issued reports on WEC. Guggenheim reaffirmed a “buy” rating and set a $73.00 price target on shares of WEC Energy Group in a research note on Wednesday, January 3rd. UBS assumed coverage on shares of WEC Energy Group in a research report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price objective on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $63.00 price objective (down previously from $65.00) on shares of WEC Energy Group in a research report on Friday, February 23rd. Zacks Investment Research cut shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Wells Fargo cut their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.00.

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The company has a current ratio of 0.57, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $19,380.74, a PE ratio of 19.56, a price-to-earnings-growth ratio of 4.41 and a beta of 0.12.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. equities research analysts expect that WEC Energy Group Inc will post 3.3 earnings per share for the current year.

In other news, Director Barbara L. Bowles sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $60.19, for a total value of $120,380.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WEC. New York State Common Retirement Fund grew its holdings in shares of WEC Energy Group by 1.3% in the third quarter. New York State Common Retirement Fund now owns 697,570 shares of the utilities provider’s stock worth $43,793,000 after purchasing an additional 9,000 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of WEC Energy Group by 28.9% in 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 during the last quarter. Macquarie Group Ltd. grew its holdings in shares of WEC Energy Group by 1.2% in the third quarter. Macquarie Group Ltd. now owns 229,433 shares of the utilities provider’s stock worth $14,403,000 after purchasing an additional 2,750 shares during the last quarter. Stephens Inc. AR bought a new position in shares of WEC Energy Group in the third quarter worth about $646,000. Finally, Nordea Investment Management AB grew its holdings in shares of WEC Energy Group by 34.0% in the third quarter. Nordea Investment Management AB now owns 16,283 shares of the utilities provider’s stock worth $1,022,000 after purchasing an additional 4,129 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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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.

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