Wec Energy Group Incorporated (NYSE:WEC) Shorted Shares Increased 23.9% After Market Selling

The stock of Wec Energy Group Incorporated (NYSE:WEC) registered an increase of 23.9% in short interest. WEC’s total short interest was 11.67 million shares in September as published by FINRA. Its up 23.9% from 9.42 million shares, reported previously. With 1.79 million shares average volume, it will take short sellers 7 days to cover their WEC’s short positions. The short interest to Wec Energy Group Incorporated’s float is 3.71%. The stock decreased 0.60% or $0.37 during the last trading session, hitting $61.31. WEC Energy Group Inc (NYSE:WEC) has risen 5.74% since February 25, 2016 and is uptrending. It has underperformed by 5.51% the S&P500.

WEC Energy Group, Inc., formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The company has a market cap of $19.02 billion. The Company’s divisions are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. It has a 21.86 P/E ratio. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility activities of Wisconsin Electric Power Company , Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas activities in the state of Michigan.

Insitutional Activity: The institutional sentiment decreased to 0.5 in Q2 2016. Its down 0.50, from 1 in 2016Q1. The ratio fall, as 3 funds sold all WEC Energy Group Inc shares owned while 3 reduced positions. 1 funds bought stakes while 2 increased positions. They now own 503,583 shares or 9.56% less from 556,790 shares in 2016Q1.

South Street Advisors Llc holds 4.67% of its portfolio in WEC Energy Group Inc for 227,400 shares. Winch Advisory Services Llc owns 6,088 shares or 0.48% of their US portfolio. Moreover, Bruce & Co. Inc. has 0.4% invested in the company for 24,252 shares. The Pennsylvania-based Vantage Investment Advisors Llc has invested 0.17% in the stock. Eqis Capital Management Inc., a California-based fund reported 25,858 shares.

Out of 7 analysts covering Wisconsin Energy Corporation (NYSE:WEC), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $63 is the highest target while $51.50 is the lowest. The $57.79 average target is -5.74% below today’s ($61.31) stock price. Wisconsin Energy Corporation has been the topic of 11 analyst reports since October 21, 2015 according to StockzIntelligence Inc. UBS upgraded the stock on May 9 to “Neutral” rating.

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