Hanson & Doremus Investment Management continued to hold its stake in shares of WEC Energy Group Inc. (NYSE:WEC) during the second quarter, Holdings Channel reports. The firm owned 3,000 shares of the company’s stock at the end of the second quarter. Hanson & Doremus Investment Management’s holdings in WEC Energy Group were worth $196,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. bought a new stake in WEC Energy Group during the first quarter valued at $109,000. Financial Architects Inc raised its stake in WEC Energy Group by 240.3% in the second quarter. Financial Architects Inc now owns 2,130 shares of the company’s stock valued at $139,000 after buying an additional 1,504 shares during the period. BLB&B Advisors LLC bought a new stake in WEC Energy Group during the second quarter valued at $200,000. Osborn Rohs Williams & Donohoe Ltd bought a new stake in WEC Energy Group during the second quarter valued at $209,000. Finally, Sentinel Trust Co. LBA bought a new stake in WEC Energy Group during the second quarter valued at $210,000. Institutional investors and hedge funds own 70.65% of the company’s stock.
WEC Energy Group Inc. (NYSE:WEC) traded up 0.59% during mid-day trading on Tuesday, hitting $58.38. The stock had a trading volume of 690,007 shares. The stock’s 50 day moving average price is $59.84 and its 200 day moving average price is $60.99. The firm has a market capitalization of $18.43 billion, a price-to-earnings ratio of 20.84 and a beta of 0.08. WEC Energy Group Inc. has a one year low of $47.98 and a one year high of $66.10.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm earned $1.60 billion during the quarter, compared to the consensus estimate of $2.03 billion. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The business’s revenue was up 61.7% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Analysts forecast that WEC Energy Group Inc. will post $2.93 EPS for the current year.
Several equities research analysts recently weighed in on WEC shares. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, September 23rd. Argus restated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of WEC Energy Group in a report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $58.25.
In other WEC Energy Group news, EVP Robert M. Garvin sold 19,225 shares of the firm’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 $1,707,490.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Susan H. Martin sold 40,000 shares of the firm’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. 0.81% of the stock is owned by company insiders.
About WEC Energy Group
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.