Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Trims Holdings in WEC Energy Group Inc (WEC)

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Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lessened its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,600 shares of the utilities provider’s stock after selling 8,300 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in WEC Energy Group were worth $6,898,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. We Are One Seven LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. ERTS Wealth Advisors LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. Kings Point Capital Management bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $34,000. Finally, Gantzert Investment Co. LLC ADV bought a new position in shares of WEC Energy Group during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 74.79% of the company’s stock.

Several research firms recently commented on WEC. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Credit Suisse Group raised their price target on WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Argus raised their price target on WEC Energy Group from $75.00 to $81.00 and gave the company a “buy” rating in a report on Thursday, December 6th. Finally, Wells Fargo & Co raised their price target on WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $74.11.

In other news, Director Ulice Payne, Jr. sold 6,700 shares of WEC Energy Group stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $75.29, for a total value of $504,443.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gale E. Klappa sold 49,526 shares of WEC Energy Group stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $74.94, for a total value of $3,711,478.44. The disclosure for this sale can be found here. Insiders have sold a total of 456,668 shares of company stock valued at $34,330,208 over the last ninety days. Insiders own 0.94% of the company’s stock.

WEC stock opened at $77.74 on Thursday. WEC Energy Group Inc has a fifty-two week low of $58.48 and a fifty-two week high of $78.88. The firm has a market cap of $24.48 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 5.03 and a beta of 0.15. The company has a quick ratio of 0.51, a current ratio of 0.67 and a debt-to-equity ratio of 1.02.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 12th. The utilities provider reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.01. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.

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WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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