Tiaa Fsb decreased its position in WEC Energy Group Inc (NYSE:WEC) by 16.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,118 shares of the utilities provider’s stock after selling 4,503 shares during the quarter. Tiaa Fsb’s holdings in WEC Energy Group were worth $1,829,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WEC. We Are One Seven LLC purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $30,000. Essex Investment Management Co. LLC purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $30,000. ERTS Wealth Advisors LLC purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $30,000. Arbor Wealth Management LLC purchased a new stake in shares of WEC Energy Group during the fourth quarter worth $32,000. Finally, Kings Point Capital Management purchased a new stake in shares of WEC Energy Group during the fourth quarter worth $34,000. 74.95% of the stock is currently owned by institutional investors.
WEC Energy Group stock opened at $76.46 on Wednesday. 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 firm has a market cap of $24.12 billion, a PE ratio of 22.89, a P/E/G ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a twelve month low of $58.48 and a twelve month high of $80.05.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.96 billion. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Analysts predict that WEC Energy Group Inc will post 3.52 EPS for the current year.
In other WEC Energy Group news, insider Tom Metcalfe sold 13,675 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $75.72, for a total value of $1,035,471.00. Following the completion of the transaction, the insider now owns 20,304 shares in the company, valued at $1,537,418.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allen L. Leverett sold 112,250 shares of the company’s stock in a transaction on 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 owns 151,589 shares of the company’s stock, valued at approximately $11,270,642.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 456,668 shares of company stock valued at $34,330,208. Insiders own 0.75% of the company’s stock.
A number of research firms have recently weighed in on WEC. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Credit Suisse Group upped their price objective on WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a research report on Thursday, February 14th. Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $71.00 to $70.00 in a research report on Monday, April 8th. Argus upped their price objective on WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Wells Fargo & Co upped their price objective on WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $73.70.
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About WEC Energy Group
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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