Lynch Associatesin Lowers stake in WEC Energy Group Inc (WEC)

WEC Energy Group Inc (WEC) : Lynch Associatesin reduced its stake in WEC Energy Group Inc by 11.75% during the most recent quarter end. The investment management company now holds a total of 10,550 shares of WEC Energy Group Inc which is valued at $604,515 after selling 1,405 shares in WEC Energy Group Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.WEC Energy Group Inc makes up approximately 0.27% of Lynch Associatesin’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank boosted its stake in WEC in the latest quarter, The investment management firm added 905 additional shares and now holds a total of 2,135 shares of WEC Energy Group Inc which is valued at $122,336. WEC Energy Group Inc makes up approx 0.03% of Washington Trust Bank’s portfolio.Beacon Financial Group reduced its stake in WEC by selling 581 shares or 6.58% in the most recent quarter. The Hedge Fund company now holds 8,249 shares of WEC which is valued at $472,668. WEC Energy Group Inc makes up approx 0.10% of Beacon Financial Group’s portfolio.

WEC Energy Group Inc closed down -1.6 points or -2.71% at $57.43 with 32,39,433 shares getting traded on Tuesday. Post opening the session at $58.89, the shares hit an intraday low of $57 and an intraday high of $59.05 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, WEC Energy Group Inc reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.55. The company had revenue of $1602.00 million for the quarter, compared to analysts expectations of $2063.35 million. The company’s revenue was up 61.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

WEC Energy GroupInc. formerly Wisconsin Energy Corporation is a holding company. The Company operates through two segments: utility energy segment and non-utility energy segment. Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas operating together under the trade name of We Energies. Its non-utility energy segment consists of We Power which owns and leases to Wisconsin Electric generation plants constructed as part of its Power the Future (PTF) strategy. Its other non-utility operations consist of the operations of its subsidiaries Wispark LLC and Bostco LLC. Its principal utilities include Wisconsin Public Service Peoples Gas North Shore Gas Michigan Gas Utilities and Minnesota Energy Resources among others. Its primary subsidiaries are Wisconsin Electric Power Company (Wisconsin Electric) Wisconsin Gas LLC (Wisconsin Gas) W.E. Power LLC (We Power) Integrys Energy Group Inc. and Integrys Holding Inc. among others.

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