Intelligent Financial Strategies acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating ) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,059 shares of the utilities provider’s stock, valued at approximately $99,000.
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A number of other hedge funds and other institutional investors have also modified their holdings. CoreFirst Bank & Trust acquired a new position in WEC Energy Group in the second quarter worth about $25,000. Glassy Mountain Advisors Inc. acquired a new position in WEC Energy Group in the fourth quarter worth about $26,000. Asset Dedication LLC acquired a new position in WEC Energy Group in the fourth quarter worth about $27,000. Achmea Investment Management BV acquired a new position in WEC Energy Group in the first quarter worth about $27,000. Finally, Cowa LLC acquired a new position in WEC Energy Group in the third quarter valued at about $30,000. 74.05% of the stock is currently owned by institutional investors.
Wall Street analysts forecast growth
The WEC has been the subject of a number of analyst reports. BMO Capital Markets upped their target price on WEC Energy Group from $93.00 to $100.00 in a research note on Monday, December 5th. StockNews.com initiated coverage on WEC Energy Group in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet raised WEC Energy Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 13th. Finally, Wells Fargo & Company decreased their target price on WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. WEC Energy Group has an average rating of “Hold” and an average target price of $98.78, according to MarketBeat.com.
WEC Energy Group Trading up 0.4%
NYSE:WEC opened at $94.79 on Monday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.69, and a quick ratio of 0.52. WEC Energy Group, Inc. has a fifty-two week low of $80.82 and a fifty-two week high of $108.39. The stock’s 50-day moving average is $92.01, and its two-hundred-day moving average is $93.04. The stock has a market cap of $29.90 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 3.53 and a beta of 0.38.
WEC Energy Group (NYSE:WEC – Get Rating ) last announced its quarterly earnings results on Thursday, February 2nd. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to analysts’ estimates of $2.01 billion. WEC Energy Group had a return on equity of 12.24% and a net margin of 14.68%. The company’s revenues increased by 16.2% year-on-year. During the same period in the previous year, the company earned $0.71 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will report 4.6 earnings per share for the current fiscal year.
About WEC Energy Group
WEC Energy Group, Inc is a holding company engaged in the generation and distribution of electricity and natural gas. It operates in the following segments: Wisconsin, Illinois, Other States, Power Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment relates to electric and gas grid operations.
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