WEC Energy Group Inc. (WEC) Stake Reduced by Duff & Phelps Investment Management Co.
Duff & Phelps Investment Management Co. reduced its stake in shares of WEC Energy Group Inc. (NYSE:WEC) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,107,200 shares of the company’s stock after selling 1,115 shares during the period. WEC Energy Group comprises approximately 2.1% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 5th largest position. Duff & Phelps Investment Management Co.’s holdings in WEC Energy Group were worth $137,600,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in WEC. NN Investment Partners Holdings N.V. purchased a new stake in WEC Energy Group during the first quarter worth $109,000. Financial Architects Inc increased its stake in WEC Energy Group by 240.3% in the second quarter. Financial Architects Inc now owns 2,130 shares of the company’s stock worth $139,000 after buying an additional 1,504 shares during the last quarter. BLB&B Advisors LLC purchased a new stake in WEC Energy Group during the second quarter worth $200,000. Osborn Rohs Williams & Donohoe Ltd purchased a new stake in WEC Energy Group during the second quarter worth $209,000. Finally, Sentinel Trust Co. LBA purchased a new stake in WEC Energy Group during the second quarter worth $210,000. 70.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of WEC Energy Group Inc. (NYSE:WEC) traded up 0.45% during midday trading on Tuesday, hitting $58.30. The company’s stock had a trading volume of 1,489,474 shares. The company has a market cap of $18.40 billion, a P/E ratio of 20.81 and a beta of 0.08. WEC Energy Group Inc. has a 1-year low of $47.98 and a 1-year high of $66.10. The company has a 50-day moving average price of $59.84 and a 200 day moving average price of $60.99.
WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $2.03 billion. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The company’s revenue was up 61.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. On average, equities research analysts predict that WEC Energy Group Inc. will post $2.93 EPS for the current year.
A number of research firms have recently weighed in on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Argus restated a “buy” rating and set a $70.00 target price (up previously from $65.00) on shares of WEC Energy Group in a research report on Tuesday, August 2nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $58.25.
In related news, EVP Robert M. Garvin sold 19,225 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $61.62, for a total transaction of $1,184,644.50. Following the sale, the executive vice president now owns 27,710 shares of the company’s stock, valued at approximately $1,707,490.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Susan H. Martin sold 40,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were 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. 0.81% of the stock is owned by company insiders.
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.
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