Wealth Enhancement Advisory Services LLC increased its position in WEC Energy Group Inc. (NYSE:WEC) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,089 shares of the company’s stock after buying an additional 3,340 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in WEC Energy Group were worth $2,095,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ngam Advisors L.P. raised its stake in WEC Energy Group by 26.4% in the first quarter. Ngam Advisors L.P. now owns 32,589 shares of the company’s stock worth $1,958,000 after buying an additional 6,807 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in WEC Energy Group during the first quarter worth about $109,000. M&T Bank Corp raised its stake in WEC Energy Group by 1.6% in the first quarter. M&T Bank Corp now owns 33,078 shares of the company’s stock worth $1,987,000 after buying an additional 529 shares during the period. ING Groep NV bought a new stake in WEC Energy Group during the first quarter worth about $433,000. Finally, Credit Agricole S A raised its stake in WEC Energy Group by 1.0% in the first quarter. Credit Agricole S A now owns 76,861 shares of the company’s stock worth $4,617,000 after buying an additional 755 shares during the period. 70.65% of the stock is owned by institutional investors and hedge funds.
WEC Energy Group Inc. (NYSE:WEC) traded up 0.74% during trading on Monday, hitting $58.17. 678,119 shares of the stock were exchanged. WEC Energy Group Inc. has a 1-year low of $47.98 and a 1-year high of $66.10. The firm’s 50 day moving average price is $59.89 and its 200-day moving average price is $60.99. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 20.77 and a beta of 0.08.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The company earned $1.60 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The company’s revenue for the quarter was up 61.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. On average, analysts anticipate that WEC Energy Group Inc. will post $2.93 EPS for the current year.
WEC has been the subject of a number of research analyst reports. Argus reissued a “buy” rating and issued a $70.00 price target (up from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.25.
In related news, EVP Robert M. Garvin sold 19,225 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $61.62, for a total value of $1,184,644.50. Following the completion of the transaction, the executive vice president now directly owns 27,710 shares in the company, valued at approximately $1,707,490.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Susan H. Martin sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.05, for a total value of $2,602,000.00. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.