Fulton Bank N.A. Purchases 317 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Fulton Bank N.A. raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 14.4% during the 1st quarter, Holdings Channel reports. The fund owned 2,516 shares of the utilities provider’s stock after purchasing an additional 317 shares during the period. Fulton Bank N.A.’s holdings in WEC Energy Group were worth $236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Phoenix Wealth Advisors bought a new stake in WEC Energy Group during the 4th quarter valued at $25,000. Graves Light Private Wealth Management Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at $26,000. tru Independence LLC boosted its position in WEC Energy Group by 422.0% during the 4th quarter. tru Independence LLC now owns 308 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 249 shares in the last quarter. Hoover Financial Advisors Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at $29,000. Finally, Cowa LLC bought a new stake in WEC Energy Group during the 4th quarter valued at $29,000. 73.05% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the company. Mizuho assumed coverage on WEC Energy Group in a research report on Thursday. They issued a “neutral” rating and a $94.00 price objective for the company. Wells Fargo & Company raised WEC Energy Group from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $94.00 to $93.00 in a research report on Wednesday, March 10th. Finally, Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and set a $107.00 price objective for the company in a research report on Wednesday, January 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $94.08.

Shares of WEC stock opened at $92.35 on Friday. The firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.51 and a beta of 0.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.49 and a quick ratio of 0.36. The business has a fifty day moving average of $87.91 and a 200 day moving average of $92.44. WEC Energy Group, Inc. has a 1 year low of $80.55 and a 1 year high of $106.85.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, February 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.10 billion. WEC Energy Group had a return on equity of 11.36% and a net margin of 16.26%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 3.75 earnings per share for the current year.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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

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