WEC Energy Group, Inc. (NYSE:WEC) Stock Holdings Lowered by FourThought Financial LLC

FourThought Financial LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 35.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,407 shares of the utilities provider’s stock after selling 1,338 shares during the quarter. FourThought Financial LLC’s holdings in WEC Energy Group were worth $215,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WEC. Texas Permanent School Fund boosted its stake in shares of WEC Energy Group by 7.1% during the 3rd quarter. Texas Permanent School Fund now owns 44,632 shares of the utilities provider’s stock worth $3,991,000 after acquiring an additional 2,968 shares in the last quarter. Inspire Investing LLC boosted its position in shares of WEC Energy Group by 4.7% in the 3rd quarter. Inspire Investing LLC now owns 6,492 shares of the utilities provider’s stock valued at $581,000 after purchasing an additional 292 shares during the period. Wipfli Financial Advisors LLC purchased a new position in WEC Energy Group in the 3rd quarter worth about $911,000. IFG Advisory LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth about $353,000. Finally, Lord Abbett & CO. LLC purchased a new stake in WEC Energy Group during the third quarter valued at about $31,301,000. 74.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent analyst reports. TheStreet upgraded shares of WEC Energy Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 13th. BMO Capital Markets increased their target price on WEC Energy Group from $93.00 to $100.00 in a report on Monday, December 5th. StockNews.com assumed coverage on WEC Energy Group in a report on Thursday. They set a “hold” rating on the stock. UBS Group increased their price objective on WEC Energy Group to $103.00 in a research note on Monday, November 21st. Finally, Wells Fargo & Company lowered 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $98.78.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $94.25 on Friday. 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 one year low of $80.82 and a one year high of $108.39. The business’s 50-day moving average price is $92.46 and its two-hundred day moving average price is $94.01. The company has a market capitalization of $29.73 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.44 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 EPS for the quarter, beating the consensus estimate of $0.75 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.01 billion. WEC Energy Group had a return on equity of 12.24% and a net margin of 14.68%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 4.6 earnings per share for the current fiscal year.

WEC Energy Group Profile

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WEC Energy Group, Inc is a holding company, which engages in the generation and distribution of electricity and natural gas. It operates through the following segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure and Corporate & Other. The Wisconsin segment refers to the electric and gas utility operations.