Advisory Services Network LLC Trims Stake in WEC Energy Group Inc (WEC)

Advisory Services Network LLC trimmed its stake in WEC Energy Group Inc (NYSE:WEC) by 16.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,576 shares of the utilities provider’s stock after selling 300 shares during the quarter. Advisory Services Network LLC’s holdings in WEC Energy Group were worth $109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Worldquant Millennium Quantitative Strategies LLC lifted its stake in WEC Energy Group by 31.0% during the fourth quarter. Worldquant Millennium Quantitative Strategies LLC now owns 39,892 shares of the utilities provider’s stock valued at $2,763,000 after buying an additional 9,448 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of WEC Energy Group by 97.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,167 shares of the utilities provider’s stock valued at $3,749,000 after acquiring an additional 27,751 shares during the period. Csenge Advisory Group raised its holdings in shares of WEC Energy Group by 18.5% during the third quarter. Csenge Advisory Group now owns 5,959 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 929 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of WEC Energy Group by 1.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 155,548 shares of the utilities provider’s stock valued at $10,773,000 after acquiring an additional 1,955 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of WEC Energy Group by 64.5% in the 4th quarter. State of Alaska Department of Revenue now owns 239,742 shares of the utilities provider’s stock valued at $16,602,000 after acquiring an additional 93,961 shares in the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.

Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Argus boosted their target price on shares of WEC Energy Group to $85.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Credit Suisse Group increased their target price on WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Finally, Wells Fargo & Co raised their target price 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $74.11.

In other news, CFO Scott J. Lauber sold 3,650 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $76.26, for a total transaction of $278,349.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allen L. Leverett sold 112,250 shares of WEC Energy Group stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $74.35, for a total value of $8,345,787.50. Following the sale, the director now owns 151,589 shares of the company’s stock, valued at $11,270,642.15. The disclosure for this sale can be found here. Insiders sold 456,668 shares of company stock worth $34,330,208 in the last 90 days. Corporate insiders own 0.75% of the company’s stock.

WEC stock opened at $78.22 on Friday. WEC Energy Group Inc has a 12-month low of $58.48 and a 12-month high of $80.05. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.67 and a quick ratio of 0.51. The company has a market capitalization of $24.44 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 5.02 and a beta of 0.16.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.64 by $0.01. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company posted $0.71 EPS. WEC Energy Group’s revenue was up 1.1% on a year-over-year basis. On average, research analysts expect that WEC Energy Group Inc will post 3.52 earnings per share for the current fiscal year.

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

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