1ST Source Bank Continues to Hold Position in WEC Energy Group Inc. (WEC)
1ST Source Bank continued to hold its position in shares of WEC Energy Group Inc. (NYSE:WEC) during the second quarter, Holdings Channel reports. The fund owned 4,156 shares of the company’s stock at the end of the second quarter. 1ST Source Bank’s holdings in WEC Energy Group were worth $271,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of WEC. Ngam Advisors L.P. raised its stake in WEC Energy Group by 26.4% in the first quarter. Ngam Advisors L.P. now owns 32,589 shares of the company’s stock worth $1,958,000 after buying an additional 6,807 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in WEC Energy Group during the first quarter worth approximately $109,000. M&T Bank Corp raised its stake in WEC Energy Group by 1.6% in the first quarter. M&T Bank Corp now owns 33,078 shares of the company’s stock worth $1,987,000 after buying an additional 529 shares in the last quarter. ING Groep NV acquired a new stake in WEC Energy Group during the first quarter worth approximately $433,000. Finally, Credit Agricole S A raised its stake in WEC Energy Group by 1.0% in the first quarter. Credit Agricole S A now owns 76,861 shares of the company’s stock worth $4,617,000 after buying an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 70.65% of the company’s stock.
WEC Energy Group Inc. (NYSE:WEC) traded up 0.65% on Tuesday, hitting $58.42. The company’s stock had a trading volume of 623,151 shares. The stock has a market cap of $18.44 billion, a PE ratio of 20.86 and a beta of 0.08. WEC Energy Group Inc. has a 12 month low of $47.98 and a 12 month high of $66.10. The firm has a 50 day moving average of $59.84 and a 200-day moving average of $60.99.
WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 27th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 61.7% compared to the same quarter last year. On average, analysts expect that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the company. Argus reaffirmed a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. WEC Energy Group currently has a consensus rating of “Hold” and an average price target of $58.25.
In other WEC Energy Group news, EVP Robert M. Garvin sold 19,225 shares of the 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 transaction, the executive vice president now owns 27,710 shares in the company, valued at $1,707,490.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Susan H. Martin sold 40,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was 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. Corporate insiders own 0.81% of the company’s stock.
WEC Energy Group Company Profile
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.
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group Inc. (NYSE:WEC).
Receive News & Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.