Franklin Resources Inc. raised its position in WEC Energy Group Inc (NYSE:WEC) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,198,705 shares of the utilities provider’s stock after purchasing an additional 22,887 shares during the quarter. Franklin Resources Inc. owned 0.70% of WEC Energy Group worth $146,060,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sii Investments Inc. WI raised its stake in shares of WEC Energy Group by 6.8% in the 3rd quarter. Sii Investments Inc. WI now owns 12,899 shares of the utilities provider’s stock valued at $812,000 after purchasing an additional 820 shares during the period. ARGI Investment Services LLC raised its stake in shares of WEC Energy Group by 5.9% in the 3rd quarter. ARGI Investment Services LLC now owns 15,010 shares of the utilities provider’s stock valued at $942,000 after purchasing an additional 834 shares during the period. Rockland Trust Co. raised its stake in shares of WEC Energy Group by 7.8% in the 4th quarter. Rockland Trust Co. now owns 11,957 shares of the utilities provider’s stock valued at $794,000 after purchasing an additional 869 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of WEC Energy Group by 0.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 97,653 shares of the utilities provider’s stock valued at $6,487,000 after purchasing an additional 896 shares during the period. Finally, Dearborn Partners LLC raised its stake in shares of WEC Energy Group by 0.3% in the 3rd quarter. Dearborn Partners LLC now owns 341,147 shares of the utilities provider’s stock valued at $21,417,000 after purchasing an additional 930 shares during the period. 72.90% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Barbara L. Bowles sold 2,000 shares of WEC Energy Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $60.19, for a total transaction of $120,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.
WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. WEC Energy Group had a return on equity of 10.81% and a net margin of 15.75%. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. WEC Energy Group’s quarterly revenue was up 4.7% on a year-over-year basis. research analysts expect that WEC Energy Group Inc will post 3.3 EPS for the current year.
A number of research firms recently issued reports on WEC. Zacks Investment Research downgraded WEC Energy Group from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Sunday, January 21st. UBS Group began coverage on WEC Energy Group in a research report on Friday, February 2nd. They issued a “neutral” rating and a $65.00 target price on the stock. Wells Fargo & Co lowered their target price on WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research report on Thursday, February 1st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $63.00 target price (down previously from $65.00) on shares of WEC Energy Group in a research report on Friday, February 23rd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $73.00 target price on shares of WEC Energy Group in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $66.00.
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WEC Energy Group Company 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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