BlueCrest Capital Management Ltd Takes $1.29 Million Position in WEC Energy Group, Inc. (WEC)
BlueCrest Capital Management Ltd acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,983 shares of the utilities provider’s stock, valued at approximately $1,288,000.
A number of other large investors also recently bought and sold shares of WEC. Oakworth Capital Inc. raised its position in WEC Energy Group by 8.8% during the second quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 132 shares during the period. Delphi Private Advisors LLC raised its position in WEC Energy Group by 182.3% during the second quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock worth $120,000 after acquiring an additional 1,276 shares during the period. Country Trust Bank raised its position in WEC Energy Group by 5.7% during the second quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 112 shares during the period. Captrust Financial Advisors acquired a new position in WEC Energy Group during the second quarter worth $132,000. Finally, Private Vista LLC acquired a new position in WEC Energy Group during the second quarter worth $136,000. Institutional investors own 70.24% of the company’s stock.
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In other news, Director Gale E. Klappa sold 100,500 shares of WEC Energy Group stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Susan H. Martin sold 15,000 shares of WEC Energy Group stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $66.00, for a total value of $990,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 192,190 shares of company stock valued at $12,435,484 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.
A number of equities analysts have weighed in on WEC shares. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a research report on Monday, June 26th. BidaskClub cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. Finally, KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.50.
Shares of WEC Energy Group, Inc. (NYSE WEC) opened at 65.855 on Friday. The stock has a 50 day moving average of $64.80 and a 200-day moving average of $62.81. The firm has a market capitalization of $20.78 billion, a PE ratio of 21.592 and a beta of 0.12. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $67.20.
WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a return on equity of 10.75% and a net margin of 12.72%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post $3.11 EPS for the current fiscal year.
WEC Energy Group Profile
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
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