Hartford Investment Management Co. Sells 7,073 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Posted by Defense World Staff on Mar 31st, 2023

Hartford Investment Management Co. trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,887 shares of the utilities provider’s stock after selling 7,073 shares during the period. Hartford Investment Management Co.’s holdings in WEC Energy Group were worth $2,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $594,069,000 after acquiring an additional 1,296,919 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of WEC Energy Group by 563.3% in the first quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock worth $131,757,000 after purchasing an additional 1,121,075 shares during the last quarter. Millennium Management LLC lifted its position 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 in the last quarter. Vanguard Group Inc. boosted its stake in WEC Energy Group by 2.0% during the third quarter. Vanguard Group Inc. now owns 41,460,137 shares of the utilities provider’s stock valued at $3,707,780,000 after buying an additional 820,031 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its holdings in WEC Energy Group by 3,144.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 683,315 shares of the utilities provider’s stock valued at $61,109,000 after buying an additional 662,252 shares in the last quarter. Institutional investors own 74.05% of the company’s stock.

WEC Energy Group Trading Up 0.1 %

WEC opened at $94.45 on Friday. WEC Energy Group, Inc. has a one year low of $80.82 and a one year high of $108.39. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.52 and a current ratio of 0.69. The stock has a market cap of $29.79 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 3.47 and a beta of 0.38. The stock’s 50 day moving average price is $91.97 and its 200-day moving average price is $93.28.

WEC Energy Group (NYSE:WEC – Get Rating) last released its earnings results on Thursday, February 2nd. The utilities provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.01 billion. WEC Energy Group had a return on equity of 12.24% and a net margin of 14.68%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.6 EPS for the current year.

Analyst Ratings Changes

WEC has been the subject of a number of research reports. BMO Capital Markets increased their target price on WEC Energy Group from $93.00 to $100.00 in a research report on Monday, December 5th. TheStreet upgraded shares of WEC Energy Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 13th. Wells Fargo & Company dropped their price target on WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Finally, StockNews.com began coverage on WEC Energy Group in a research report on Thursday, March 16th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.