Signaturefd LLC Lowers Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Posted by on Apr 13th, 2023

Signaturefd LLC lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,378 shares of the utilities provider’s stock after selling 579 shares during the quarter. Signaturefd LLC’s holdings in WEC Energy Group were worth $692,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at approximately $26,000. Asset Dedication LLC bought a new stake in WEC Energy Group during the 4th quarter valued at approximately $27,000. Achmea Investment Management B.V. bought a new stake in WEC Energy Group during the 1st quarter valued at approximately $27,000. Cowa LLC bought a new stake in WEC Energy Group during the 3rd quarter valued at approximately $30,000. Finally, Money Concepts Capital Corp raised its stake in WEC Energy Group by 98.5% during the 3rd quarter. Money Concepts Capital Corp now owns 405 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 201 shares during the period. Institutional investors own 74.05% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on WEC Energy Group from $109.00 to $106.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. StockNews.com assumed coverage on WEC Energy Group in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $98.78.

WEC Energy Group Stock Performance

NYSE:WEC opened at $98.15 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.69 and a quick ratio of 0.52. WEC Energy Group, Inc. has a 1 year low of $80.82 and a 1 year high of $108.39. The stock’s 50 day simple moving average is $92.69 and its two-hundred day simple moving average is $92.91. The company has a market cap of $30.96 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 3.67 and a beta of 0.40.

WEC Energy Group (NYSE:WEC – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The utilities provider reported $0.80 earnings per share (EPS) 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 the consensus estimate of $2.01 billion. WEC Energy Group had a return on equity of 12.24% and a net margin of 14.68%. The company’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.6 earnings per share for the current fiscal year.

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.

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

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