Parallel Advisors LLC Reduces Investment in WEC Energy Group,
May 2, 2023
Trending News ☀️
Recent reports from Defense World have announced that Parallel Advisors LLC has reduced its stake in WEC ($NYSE:WEC) Energy Group, Inc. WEC Energy Group is an energy company based in Milwaukee, Wisconsin. They also own and operate power plants in Wisconsin, Michigan and Illinois, as well as investments in other energy-related businesses. The company has a strong focus on energy efficiency initiatives, renewable energy sources, and providing reliable and affordable energy to all its customers.
The decision by Parallel Advisors LLC to reduce their stake in WEC Energy Group comes in the wake of the company’s recent financial performance. While the company’s stock has been performing well in recent months, the reduced stake is reflective of the fact that investors are looking for more potential growth opportunities in other parts of the energy sector.
Stock Price
On Monday, Parallel Advisors LLC announced that it had reduced its investment in WEC Energy Group, Inc. (WEC). The stock opened at $96.1 at the start of trading and closed at $95.9, a decrease of 0.2% from its prior closing price of $96.2. The announcement of the reduced investment overshadowed the positive news that WEC had reported earlier in the day, including the completion of its acquisition of Integrys Energy Group, Inc. and its announcement of the sale of its non-utility natural gas business. The reduction in investment may be due to concerns about WEC’s ability to capitalize on the potential benefits of the acquisitions and divestitures. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Wec Energy. More…
| Total Revenues | Net Income | Net Margin |
| 9.6k | 1.41k | 14.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wec Energy. More…
| Operations | Investing | Financing |
| 2.06k | -2.64k | 676.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wec Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 41.87k | 30.26k | 36.1 |
Key Ratios Snapshot
Some of the financial key ratios for Wec Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.5% | 7.9% | 23.4% |
| FCF Margin | ROE | ROA |
| -2.8% | 12.3% | 3.4% |
Analysis
At GoodWhale, we recently conducted an analysis of WEC ENERGY‘s financials. After extensive research and data, we have determined that WEC ENERGY is a medium risk investment, with both financial and business aspects to consider. From our thorough assessment, we have detected two risk warnings in their income sheet and cashflow statement that could potentially affect the firm’s performance. If you’re interested in learning more about these warnings, be sure to register on our website, goodwhale.com. We make it easy to access our data and analysis so you can make informed decisions about your investments. More…
Peers
WEC Energy Group Inc, a diversified energy holding company, engages in the business of providing electric and natural gas service through its subsidiaries. Dominion Energy Inc, Central Puerto SA, and Portland General Electric Co are some of WEC Energy Group’s competitors in the energy industry.
– Dominion Energy Inc ($NYSE:D)
Dominion Energy Inc is a leading provider of electricity and natural gas. The company serves more than 6 million customers in the United States. Dominion Energy Inc has a strong portfolio of assets and a commitment to safety, reliability, and customer service. The company’s market cap is 54.69B as of 2022 and its ROE is 7.47%. Dominion Energy Inc is a diversified energy company with a focus on electricity and natural gas. The company is one of the largest producers and transporters of energy in the United States. Dominion Energy Inc is committed to providing affordable, reliable, and clean energy to its customers.
– Central Puerto SA ($NYSE:CEPU)
Central Puerto SA is an Argentine electricity company that supplies power to the central and northern regions of the country. It has a market cap of 1.25B as of 2022 and a Return on Equity of 7.42%. The company generates, transmits, and distributes electricity through a network of over 3,000 kilometers of high-voltage lines and more than 60,000 kilometers of medium- and low-voltage lines. It also has a thermal power plant with a capacity of 1,200 MW.
– Portland General Electric Co ($NYSE:POR)
Portland General Electric Co is an electric utility company that serves customers in Oregon. As of 2022, the company had a market capitalization of $3.9 billion and a return on equity of 9.64%. The company is involved in the generation, transmission, and distribution of electricity, as well as the sale of electricity to retail and wholesale customers. Portland General Electric is the largest electricity provider in Oregon, serving over 800,000 customers.
Summary
Parallel Advisors LLC recently reduced its stake in WEC Energy Group, Inc. by nearly 4%. Though the details of their investment strategy are unknown, the move suggests that the firm is not as optimistic about the company’s performance as it had been previously. WEC Energy Group is a diversified utility holding company that provides electric and natural gas services in the Midwest and Southeast United States. Its performance is mainly dependent on regulatory decisions and weather conditions, as well as fuel costs and competition. Investors should be aware of these factors when considering WEC Energy as an investment opportunity.
Additionally, analysts should pay close attention to economic conditions and the company’s balance sheet before investing in the company.
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