Neuberger Berman Group LLC Lowers Position in WEC Energy Group, Inc. (NYSE:WEC)

Neuberger Berman Group LLC reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 15.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,409,788 shares of the utilities provider’s stock after selling 255,116 shares during the quarter. Neuberger Berman Group LLC’s holdings in WEC Energy Group were worth $125,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Duality Advisers LP purchased a new stake in WEC Energy Group during the second quarter worth approximately $8,009,000. Virtus ETF Advisers LLC purchased a new stake in WEC Energy Group during the first quarter worth approximately $1,422,000. Securian Asset Management Inc grew its stake in WEC Energy Group by 24.9% during the second quarter. Securian Asset Management Inc now owns 33,389 shares of the utilities provider’s stock worth $2,970,000 after buying an additional 6,648 shares during the period. Barclays PLC grew its stake in WEC Energy Group by 1.7% during the first quarter. Barclays PLC now owns 405,157 shares of the utilities provider’s stock worth $37,920,000 after buying an additional 6,806 shares during the period. Finally, Midwest Professional Planners LTD. purchased a new stake in WEC Energy Group during the second quarter worth approximately $1,081,000. Institutional investors own 72.87% of the company’s stock.

Several equities research analysts have issued reports on WEC shares. Argus boosted their price objective on shares of WEC Energy Group from $100.00 to $104.00 and gave the stock a “buy” rating in a research note on Wednesday, September 1st. Mizuho boosted their target price on shares of WEC Energy Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $96.67.

NYSE WEC opened at $88.98 on Thursday. The company’s fifty day simple moving average is $93.12 and its 200-day simple moving average is $93.64. WEC Energy Group, Inc. has a 52 week low of $80.55 and a 52 week high of $106.85. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.15. The stock has a market cap of $28.07 billion, a P/E ratio of 21.81, a PEG ratio of 3.74 and a beta of 0.18.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, August 3rd. The utilities provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.60 billion. WEC Energy Group had a net margin of 16.26% and a return on equity of 12.00%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, research analysts expect that WEC Energy Group, Inc. will post 4.05 EPS for the current fiscal year.

In related news, VP Joshua M. Erickson sold 1,555 shares of the company’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 sale, the vice president now directly owns 3,618 shares of the company’s stock, valued at $349,064.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

WEC Energy Group Profile

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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