Teachers Advisors LLC lessened its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 593,020 shares of the utilities provider’s stock after selling 3,266 shares during the quarter. Teachers Advisors LLC’s holdings in WEC Energy Group were worth $39,394,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in WEC. Wells Fargo & Company MN raised its holdings in WEC Energy Group by 36.6% during the 3rd quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock valued at $462,486,000 after buying an additional 1,972,929 shares during the period. APG Asset Management N.V. raised its holdings in WEC Energy Group by 170.9% during the 4th quarter. APG Asset Management N.V. now owns 2,403,530 shares of the utilities provider’s stock valued at $132,967,000 after buying an additional 1,516,384 shares during the period. Renaissance Technologies LLC raised its holdings in WEC Energy Group by 33.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,784,802 shares of the utilities provider’s stock valued at $184,994,000 after buying an additional 700,200 shares during the period. Ameriprise Financial Inc. raised its holdings in WEC Energy Group by 28.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock valued at $178,873,000 after buying an additional 638,010 shares during the period. Finally, BlackRock Inc. raised its holdings in WEC Energy Group by 2.1% during the 4th quarter. BlackRock Inc. now owns 26,807,670 shares of the utilities provider’s stock valued at $1,780,834,000 after buying an additional 560,644 shares during the period. Institutional investors own 72.76% of the company’s stock.
Several research firms recently weighed in on WEC. Credit Suisse Group restated a “neutral” rating and set a $63.00 price target (down previously from $65.00) on shares of WEC Energy Group in a report on Friday, February 23rd. UBS began coverage on WEC Energy Group in a report on Friday, February 2nd. They set a “neutral” rating and a $65.00 price target on the stock. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Saturday, January 6th. Guggenheim reiterated a “buy” rating and issued a $66.00 target price on shares of WEC Energy Group in a research note on Friday, February 23rd. Finally, Wells Fargo reduced their target price on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $66.00.
Shares of WEC Energy Group Inc (NYSE:WEC) opened at $61.77 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.57 and a quick ratio of 0.43. WEC Energy Group Inc has a 52 week low of $58.92 and a 52 week high of $70.09. The firm has a market capitalization of $19,705.76, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 4.48 and a beta of 0.12.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. sell-side analysts expect that WEC Energy Group Inc will post 3.3 EPS for the current year.
In other news, Director Barbara L. Bowles sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.97% of the company’s stock.
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WEC Energy Group Profile
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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