Jane Street Group LLC Invests $531,000 in WEC Energy Group Inc (WEC)

Jane Street Group LLC purchased a new position in WEC Energy Group Inc (NYSE:WEC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,950 shares of the utilities provider’s stock, valued at approximately $531,000.

Several other large investors also recently modified their holdings of WEC. JPMorgan Chase & Co. increased its stake in shares of WEC Energy Group by 17.4% in the third quarter. JPMorgan Chase & Co. now owns 8,999,731 shares of the utilities provider’s stock worth $600,825,000 after buying an additional 1,336,719 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of WEC Energy Group by 24.2% in the third quarter. Renaissance Technologies LLC now owns 3,873,402 shares of the utilities provider’s stock worth $258,588,000 after buying an additional 753,600 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of WEC Energy Group by 387.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 689,529 shares of the utilities provider’s stock worth $46,871,000 after buying an additional 548,176 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of WEC Energy Group by 21.2% in the second quarter. California Public Employees Retirement System now owns 915,030 shares of the utilities provider’s stock worth $59,157,000 after buying an additional 160,024 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in shares of WEC Energy Group by 146.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 245,500 shares of the utilities provider’s stock worth $15,872,000 after buying an additional 145,900 shares during the last quarter. Institutional investors and hedge funds own 72.66% of the company’s stock.

A number of brokerages recently issued reports on WEC. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Sunday. Argus lifted their price target on shares of WEC Energy Group from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, December 6th. Barclays lifted their price target on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “hold” rating in a research note on Monday, November 19th. ValuEngine upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Finally, Credit Suisse Group boosted their target price on shares of WEC Energy Group from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $71.36.

WEC stock opened at $68.65 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.51 and a quick ratio of 0.34. WEC Energy Group Inc has a 1-year low of $58.48 and a 1-year high of $75.48. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 4.43 and a beta of 0.10.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, October 31st. The utilities provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. WEC Energy Group had a net margin of 16.82% and a return on equity of 11.18%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Equities research analysts predict that WEC Energy Group Inc will post 3.33 earnings per share for the current fiscal year.

In other news, Chairman Gale E. Klappa sold 50,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $72.36, for a total transaction of $3,618,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Gale E. Klappa sold 146,618 shares of the company’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $71.68, for a total transaction of $10,509,578.24. The disclosure for this sale can be found here. Insiders have sold 319,073 shares of company stock valued at $22,864,524 in the last 90 days. Insiders own 0.94% of the company’s stock.

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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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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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