Spirit Of America Management Corpny Lowers stake in WEC Energy Group Inc (WEC)

WEC Energy Group Inc (WEC) : Spirit Of America Management Corpny reduced its stake in WEC Energy Group Inc by 25.19% during the most recent quarter end. The investment management company now holds a total of 9,800 shares of WEC Energy Group Inc which is valued at $565,852 after selling 3,300 shares in WEC Energy Group Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.WEC Energy Group Inc makes up approximately 0.07% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in WEC in the latest quarter, The investment management firm added 19,151 additional shares and now holds a total of 245,266 shares of WEC Energy Group Inc which is valued at $14,161,659. WEC Energy Group Inc makes up approx 0.12% of National Pension Service’s portfolio.Alta Capital Management boosted its stake in WEC in the latest quarter, The investment management firm added 1,050 additional shares and now holds a total of 21,557 shares of WEC Energy Group Inc which is valued at $1,254,186. WEC Energy Group Inc makes up approx 0.08% of Alta Capital Management’s portfolio.Nisa Investment Advisors boosted its stake in WEC in the latest quarter, The investment management firm added 11,100 additional shares and now holds a total of 321,160 shares of WEC Energy Group Inc which is valued at $18,174,444. WEC Energy Group Inc makes up approx 0.24% of Nisa Investment Advisors’s portfolio.First Mercantile Trust Co reduced its stake in WEC by selling 3,929 shares or 7.9% in the most recent quarter. The Hedge Fund company now holds 45,796 shares of WEC which is valued at $2,614,494. WEC Energy Group Inc makes up approx 0.35% of First Mercantile Trust Co’s portfolio.Chevy Chase Trust Holdings reduced its stake in WEC by selling 6,395 shares or 2.34% in the most recent quarter. The Hedge Fund company now holds 266,977 shares of WEC which is valued at $15,297,782. WEC Energy Group Inc makes up approx 0.08% of Chevy Chase Trust Holdings’s portfolio.

WEC Energy Group Inc closed down -0.44 points or -0.76% at $57.74 with 16,47,780 shares getting traded on Friday. Post opening the session at $57.94, the shares hit an intraday low of $57.64 and an intraday high of $58.36 and the price fluctuated in this range throughout the day.Shares ended Friday 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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