WEC Energy Group (WEC) has been under a strong bear grip, hence the stock is down -3.27% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.61% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.24% in the last 1 week, and is up 3.27% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
WEC Energy Group (NYSE:WEC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $64.75 and $64.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $65.52. The buying momentum continued till the end and the stock did not give up its gains. It closed at $65.39, notching a gain of 1.04% for the day. The total traded volume was 1,529,388 . The stock had closed at $64.72 on the previous day.
The stock has recorded a 20-day Moving Average of 1.52% and the 50-Day Moving Average is 5.08%. WEC Energy Group, Inc. is up 16.39% in the last 3-month period. Year-to-Date the stock performance stands at 29.62%.
WEC Energy Group,Inc., 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.