BNP Paribas Arbitrage SNC Sells 125,390 Shares of WEC Energy Group, Inc. (NYSE:WEC)

BNP Paribas Arbitrage SNC reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Get Rating) by 36.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 221,157 shares of the utilities provider’s stock after selling 125,390 shares during the period. BNP Paribas Arbitrage SNC owned about 0.07% of WEC Energy Group worth $19,778,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Texas Permanent School Fund lifted its position in shares of WEC Energy Group by 7.1% during the third quarter. Texas Permanent School Fund now owns 44,632 shares of the utilities provider’s stock worth $3,991,000 after acquiring an additional 2,968 shares in the last quarter. Inspire Investing LLC grew its stake in shares of WEC Energy Group by 4.7% during the third quarter. Inspire Investing LLC now owns 6,492 shares of the utilities provider’s stock valued at $581,000 after buying an additional 292 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of WEC Energy Group during the third quarter worth about $911,000. IFG Advisory LLC purchased a new stake in shares of WEC Energy Group during the third quarter worth about $353,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of WEC Energy Group during the third quarter worth about $31,301,000. 74.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WEC shares. TheStreet upgraded shares of WEC Energy Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 13th. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $93.00 to $100.00 in a research note on Monday, December 5th. Wells Fargo & Company lowered their target price on shares of 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. Finally, UBS Group lifted their target price on shares of WEC Energy Group to $103.00 in a research note on Monday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $98.78.

WEC Energy Group Stock Up 1.4 %

WEC opened at $92.43 on Wednesday. The stock has a market cap of $29.16 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 3.26 and a beta of 0.38. WEC Energy Group, Inc. has a fifty-two week low of $80.82 and a fifty-two week 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 firm’s fifty day moving average is $92.42 and its 200 day moving average is $94.07.

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

About WEC Energy Group

(Get Rating)

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.