Neuberger Berman Group LLC trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,409,788 shares of the utilities provider’s stock after selling 255,116 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.45% of WEC Energy Group worth $125,260,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CSat Investment Advisory L.P. grew its position in shares of WEC Energy Group by 52.3% in the 1st quarter. CSat Investment Advisory L.P. now owns 332 shares of the utilities provider’s stock valued at $31,000 after buying an additional 114 shares during the last quarter. Meridian Wealth Partners LLC grew its position in shares of WEC Energy Group by 59.0% in the 1st quarter. Meridian Wealth Partners LLC now owns 488 shares of the utilities provider’s stock valued at $46,000 after buying an additional 181 shares during the last quarter. Selective Wealth Management Inc. grew its position in shares of WEC Energy Group by 1,612.9% in the 2nd quarter. Selective Wealth Management Inc. now owns 531 shares of the utilities provider’s stock valued at $47,000 after buying an additional 500 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of WEC Energy Group by 49.6% in the 2nd quarter. Sound Income Strategies LLC now owns 540 shares of the utilities provider’s stock valued at $48,000 after buying an additional 179 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new position in shares of WEC Energy Group in the 1st quarter valued at $60,000. Institutional investors and hedge funds own 72.87% of the company’s stock.
In other news, VP Joshua M. Erickson sold 1,555 shares of the firm’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $96.48, for a total value of $150,026.40. Following the completion of the sale, the vice president now owns 3,618 shares in the company, valued at approximately $349,064.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.
Shares of WEC Energy Group stock opened at $88.98 on Thursday. WEC Energy Group, Inc. has a 1 year low of $80.55 and a 1 year high of $106.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.54 and a current ratio of 0.68. The company has a market capitalization of $28.07 billion, a P/E ratio of 21.81, a PEG ratio of 3.74 and a beta of 0.18. The company’s fifty day moving average is $93.12 and its two-hundred day moving average is $93.64.
WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, August 3rd. The utilities provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.08. WEC Energy Group had a net margin of 16.26% and a return on equity of 12.00%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business earned $0.76 EPS. The business’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that WEC Energy Group, Inc. will post 4.05 earnings per share for the current year.
About WEC Energy Group
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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