Mackenzie Financial Corp grew its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 114.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 166,692 shares of the utilities provider’s stock after purchasing an additional 88,865 shares during the quarter. Mackenzie Financial Corp owned approximately 0.05% of WEC Energy Group worth $11,545,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of WEC Energy Group by 6,740.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,359,757 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 2,325,262 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of WEC Energy Group by 17.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,999,731 shares of the utilities provider’s stock valued at $600,825,000 after acquiring an additional 1,336,719 shares during the last quarter. Scout Investments Inc. acquired a new position in shares of WEC Energy Group during the 4th quarter valued at about $67,361,000. Renaissance Technologies LLC boosted its position in shares of WEC Energy Group by 24.2% during the 3rd quarter. Renaissance Technologies LLC now owns 3,873,402 shares of the utilities provider’s stock valued at $258,588,000 after acquiring an additional 753,600 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of WEC Energy Group by 387.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 689,529 shares of the utilities provider’s stock valued at $46,871,000 after acquiring an additional 548,176 shares during the last quarter. 73.65% of the stock is currently owned by institutional investors.
NYSE WEC opened at $75.10 on Thursday. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $75.61. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 0.67. The stock has a market capitalization of $23.64 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 4.86 and a beta of 0.15.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. WEC Energy Group’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts predict that WEC Energy Group Inc will post 3.51 EPS for the current fiscal year.
Several research analysts have recently weighed in on WEC shares. Zacks Investment Research cut shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research report on Sunday, January 6th. Credit Suisse Group boosted their price target on shares of WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, November 1st. ValuEngine raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research report on Monday, November 12th. Wells Fargo & Co boosted their price target on shares of WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. Finally, Bank of America cut shares of WEC Energy Group from a “buy” rating to a “neutral” rating in a research report on Thursday, November 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $72.90.
In other WEC Energy Group news, CEO Gale E. Klappa sold 10,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $72.48, for a total value of $724,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Allen L. Leverett sold 112,250 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $74.35, for a total transaction of $8,345,787.50. Following the completion of the transaction, the director now directly owns 151,589 shares in the company, valued at approximately $11,270,642.15. The disclosure for this sale can be found here. Insiders sold 284,705 shares of company stock worth $20,700,733 in the last ninety days. 0.94% of the stock is currently owned by corporate insiders.
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WEC Energy Group Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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