Bank of Nova Scotia Has $4.40 Million Position in WEC Energy Group, Inc. (WEC)
Bank of Nova Scotia reduced its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,626 shares of the utilities provider’s stock after selling 839 shares during the period. Bank of Nova Scotia’s holdings in WEC Energy Group were worth $4,396,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in WEC Energy Group by 19.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 102,161 shares of the utilities provider’s stock valued at $6,271,000 after buying an additional 16,480 shares during the period. Gyroscope Capital Management Group LLC acquired a new position in WEC Energy Group in the second quarter valued at approximately $312,000. KLCM Advisors Inc. lifted its holdings in WEC Energy Group by 4.5% in the second quarter. KLCM Advisors Inc. now owns 7,037 shares of the utilities provider’s stock valued at $432,000 after buying an additional 300 shares during the period. Carret Asset Management LLC lifted its holdings in WEC Energy Group by 3.4% in the second quarter. Carret Asset Management LLC now owns 6,100 shares of the utilities provider’s stock valued at $374,000 after buying an additional 200 shares during the period. Finally, Green Square Capital LLC lifted its holdings in WEC Energy Group by 1.4% in the second quarter. Green Square Capital LLC now owns 104,693 shares of the utilities provider’s stock valued at $6,426,000 after buying an additional 1,432 shares during the period. Institutional investors and hedge funds own 70.24% of the company’s stock.
In other news, VP Susan H. Martin sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Tom Metcalfe sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $64.44, for a total transaction of $644,400.00. Following the completion of the transaction, the vice president now owns 16,059 shares in the company, valued at approximately $1,034,841.96. The disclosure for this sale can be found here. Insiders sold a total of 192,190 shares of company stock worth $12,435,484 in the last 90 days. Corporate insiders own 0.97% of the company’s stock.
Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 price objective (down from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Finally, KeyCorp restated a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $62.50.
Shares of WEC Energy Group, Inc. (WEC) opened at 65.03 on Tuesday. The firm has a 50-day moving average of $64.80 and a 200 day moving average of $62.87. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 21.32 and a beta of 0.12. WEC Energy Group, Inc. has a 12-month low of $53.66 and a 12-month high of $67.20.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. On average, equities research analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.
WEC Energy Group Profile
WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.
Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WEC).
Receive News & Ratings for WEC Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.