Boston Advisors LLC lowered its position in WEC Energy Group Inc. (NYSE:WEC) by 6.8% during the second quarter, Holdings Channel reports. The firm owned 15,714 shares of the company’s stock after selling 1,138 shares during the period. Boston Advisors LLC’s holdings in WEC Energy Group were worth $1,026,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Advisor Partners LLC boosted its position in shares of WEC Energy Group by 1.7% in the first quarter. Advisor Partners LLC now owns 4,709 shares of the company’s stock worth $283,000 after buying an additional 78 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of WEC Energy Group by 1.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,515 shares of the company’s stock worth $425,000 after buying an additional 85 shares during the period. Peapack Gladstone Financial Corp boosted its position in shares of WEC Energy Group by 1.4% in the first quarter. Peapack Gladstone Financial Corp now owns 9,395 shares of the company’s stock worth $564,000 after buying an additional 129 shares during the period. Chesley Taft & Associates LLC boosted its position in shares of WEC Energy Group by 2.1% in the second quarter. Chesley Taft & Associates LLC now owns 7,385 shares of the company’s stock worth $482,000 after buying an additional 150 shares during the period. Finally, Cleararc Capital Inc. boosted its position in shares of WEC Energy Group by 1.0% in the first quarter. Cleararc Capital Inc. now owns 21,325 shares of the company’s stock worth $1,281,000 after buying an additional 221 shares during the period. Hedge funds and other institutional investors own 70.65% of the company’s stock.
Shares of WEC Energy Group Inc. (NYSE:WEC) traded down 1.42% during midday trading on Monday, reaching $59.03. The company had a trading volume of 1,798,980 shares. The stock has a market capitalization of $18.63 billion, a PE ratio of 21.07 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 stock’s 50 day moving average is $60.86 and its 200-day moving average is $61.12.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. The company earned $1.60 billion during the quarter, compared to analysts’ expectations of $2.03 billion. WEC Energy Group had a return on equity of 10.52% and a net margin of 12.13%. The business’s quarterly revenue was up 61.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that WEC Energy Group Inc. will post $2.93 earnings per share for the current fiscal year.
A number of brokerages have issued reports on WEC. Zacks Investment Research cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, September 16th. 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 report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. WEC Energy Group presently has an average rating of “Hold” and a consensus price target of $58.25.
In related news, EVP Robert M. Garvin sold 19,225 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,707,490.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Susan H. Martin sold 40,000 shares of the company’s stock in a transaction dated 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 insiders.
About WEC Energy Group
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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