UBS Asset Management Americas Inc. Sells 1,494,582 Shares of WEC Energy Group, Inc. (NYSE:WEC)


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UBS Asset Management Americas Inc. decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 53.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,301,799 shares of the utilities provider’s stock after selling 1,494,582 shares during the period. UBS Asset Management Americas Inc. owned 0.41% of WEC Energy Group worth $119,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Phoenix Wealth Advisors acquired a new position in WEC Energy Group in the fourth quarter valued at approximately $25,000. Graves Light Private Wealth Management Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at $26,000. Hoover Financial Advisors Inc. acquired a new position in shares of WEC Energy Group during the 4th quarter valued at $29,000. Cowa LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth about $29,000. Finally, Regent Peak Wealth Advisors LLC bought a new position in WEC Energy Group in the fourth quarter worth approximately $33,000. 73.05% of the stock is owned by institutional investors and hedge funds.

WEC has been the subject of a number of analyst reports. Wells Fargo & Company upgraded shares of WEC Energy Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $94.00 to $93.00 in a report on Wednesday, March 10th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 price target on the stock in a research report on Wednesday, January 13th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. WEC Energy Group has an average rating of “Hold” and an average price target of $94.09.

Shares of WEC opened at $93.42 on Thursday. The stock has a 50 day moving average of $87.45 and a 200 day moving average of $92.45. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 4.51 and a beta of 0.18. WEC Energy Group, Inc. has a 12 month low of $80.55 and a 12 month high of $106.85. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 1.02.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Thursday, February 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.10 billion. WEC Energy Group had a return on equity of 11.36% and a net margin of 16.26%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 3.75 earnings per share for the current year.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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