Ellenbecker Investment Group Grows Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Ellenbecker Investment Group lifted its position in WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,283 shares of the utilities provider’s stock after purchasing an additional 443 shares during the quarter. WEC Energy Group accounts for about 0.6% of Ellenbecker Investment Group’s holdings, making the stock its 21st largest holding. Ellenbecker Investment Group’s holdings in WEC Energy Group were worth $1,901,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in WEC Energy Group by 28.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,902,916 shares of the utilities provider’s stock worth $594,069,000 after purchasing an additional 1,296,919 shares during the period. Renaissance Technologies LLC grew its stake in shares of WEC Energy Group by 563.3% during the first quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock valued at $131,757,000 after buying an additional 1,121,075 shares during the last quarter. Millennium Management LLC increased its holdings in shares of WEC Energy Group by 193.1% in the second quarter. Millennium Management LLC now owns 1,647,657 shares of the utilities provider’s stock worth $165,820,000 after buying an additional 1,085,475 shares during the period. Vanguard Group Inc. lifted its stake in shares of WEC Energy Group by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 41,460,137 shares of the utilities provider’s stock valued at $3,707,780,000 after acquiring an additional 820,031 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of WEC Energy Group by 14.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,400,358 shares of the utilities provider’s stock valued at $543,494,000 after acquiring an additional 683,031 shares during the last quarter. 74.05% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.6 %

WEC Energy Group stock traded down $0.61 on Friday, hitting $94.25. 3,437,285 shares of the stock traded hands, compared to its average volume of 1,337,872. WEC Energy Group, Inc. has a 1 year low of $80.82 and a 1 year high of $108.39. The firm has a market cap of $29.73 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.53 and a beta of 0.38. The company has a current ratio of 0.69, a quick ratio of 0.52 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $92.46 and its 200 day simple moving average is $94.01.

WEC Energy Group (NYSE:WEC – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.01 billion. WEC Energy Group had a net margin of 14.68% and a return on equity of 12.24%. WEC Energy Group’s revenue was up 16.2% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on WEC Energy Group in a research report on Thursday. They set a “hold” rating on the stock. UBS Group lifted their target price on shares of WEC Energy Group to $103.00 in a research note on Monday, November 21st. BMO Capital Markets increased their price target on shares of WEC Energy Group from $93.00 to $100.00 in a research report on Monday, December 5th. TheStreet raised shares of WEC Energy Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 13th. Finally, Wells Fargo & Company lowered their price objective on shares of WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $98.78.

WEC Energy Group Company 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.