WEC Energy Group Inc. (WEC) Trading 1.2% Higher
WEC Energy Group Inc. (NYSE:WEC)’s share price traded up 1.2% on Tuesday . The company traded as high as $66.04 and last traded at $65.84, with a volume of 851,943 shares traded. The stock had previously closed at $65.05.
A number of equities analysts have weighed in on the stock. US Capital Advisors downgraded shares of WEC Energy Group from an “overweight” rating to a “hold” rating in a research note on Thursday, March 10th. Deutsche Bank AG reaffirmed a “hold” rating and set a $61.00 price target on shares of WEC Energy Group in a research note on Tuesday, April 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $57.25.
The firm has a market capitalization of $20.72 billion and a price-to-earnings ratio of 24.58. The company’s 50-day moving average is $61.91 and its 200-day moving average is $57.89.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.08. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The firm earned $2.20 billion during the quarter, compared to analyst estimates of $2.55 million. WEC Energy Group’s quarterly revenue was up 58.1% compared to the same quarter last year. On average, equities research analysts anticipate that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.
In related news, Director Gale E. Klappa sold 22,000 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $61.53, for a total transaction of $1,353,660.00. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, VP Joan M. Shafer sold 15,990 shares of the company’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $58.67, for a total transaction of $938,133.30. Following the transaction, the vice president now owns 23,831 shares of the company’s stock, valued at $1,398,164.77. The disclosure for this sale can be found here.
Other large investors have made changes to their positions in the company. Jennison Associates acquired a new stake in shares of WEC Energy Group during the third quarter valued at about $37,211,000. MUFG Americas raised its stake in shares of WEC Energy Group by 56.2% in the third quarter. MUFG Americas now owns 174,262 shares of the company’s stock valued at $9,100,000 after buying an additional 62,691 shares during the period. Creative Planning raised its stake in shares of WEC Energy Group by 48.8% in the fourth quarter. Creative Planning now owns 38,094 shares of the company’s stock valued at $1,955,000 after buying an additional 12,488 shares during the period. Strs Ohio raised its stake in shares of WEC Energy Group by 13.3% in the fourth quarter. Strs Ohio now owns 29,550 shares of the company’s stock valued at $1,516,000 after buying an additional 3,461 shares during the period. Finally, World Asset Management Inc raised its stake in shares of WEC Energy Group by 2.4% in the fourth quarter. World Asset Management Inc now owns 34,400 shares of the company’s stock valued at $1,765,000 after buying an additional 809 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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