WEC Energy Group Inc. (WEC) Shares Down 0.1%
WEC Energy Group Inc. (NYSE:WEC)’s share price traded down 0.1% during trading on Friday . The company traded as low as $63.52 and last traded at $64.30, with a volume of 815,561 shares traded. The stock had previously closed at $64.38.
Separately, Deutsche Bank AG reissued a “hold” rating and set a $61.00 price objective on shares of WEC Energy Group in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $57.25.
The firm has a market capitalization of $20.53 billion and a PE ratio of 24.35. The stock’s 50-day moving average price is $62.30 and its 200 day moving average price is $58.04.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. During the same period in the previous year, the business posted $0.90 earnings per share. The business earned $2.20 billion during the quarter, compared to analyst estimates of $2.55 million. The firm’s quarterly revenue was up 58.1% on a year-over-year basis. On average, analysts anticipate that WEC Energy Group Inc. will post $2.93 EPS for the current fiscal year.
In other news, Director Gale E. Klappa sold 22,000 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $61.53, for a total value of $1,353,660.00. Following the transaction, the director now directly owns 170,827 shares in the company, valued at approximately $10,510,985.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Susan H. Martin sold 9,920 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $59.89, for a total value of $594,108.80. Following the completion of the transaction, the vice president now owns 17,868 shares in the company, valued at $1,070,114.52. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI increased its position in WEC Energy Group by 110.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 19,568 shares of the company’s stock worth $1,004,000 after buying an additional 10,265 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in WEC Energy Group by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,624 shares of the company’s stock worth $1,058,000 after buying an additional 342 shares during the period. Investment Management of Virginia LLC increased its position in WEC Energy Group by 0.5% in the fourth quarter. Investment Management of Virginia LLC now owns 25,185 shares of the company’s stock worth $1,292,000 after buying an additional 125 shares during the period. Strs Ohio increased its position in WEC Energy Group by 13.3% in the fourth quarter. Strs Ohio now owns 29,550 shares of the company’s stock worth $1,516,000 after buying an additional 3,461 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in WEC Energy Group by 4.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 38,081 shares of the company’s stock worth $1,954,000 after buying an additional 1,722 shares during the period.
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.
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