Adams Diversified Equity Fund Inc. Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Adams Diversified Equity Fund Inc. purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 161,600 shares of the utilities provider's stock, valued at approximately $15,197,000. Adams Diversified Equity Fund Inc. owned about 0.05% of WEC Energy Group as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WEC. Annex Advisory Services LLC increased its position in shares of WEC Energy Group by 6.5% during the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider's stock worth $10,405,000 after purchasing an additional 6,785 shares in the last quarter. Matrix Trust Co acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at about $1,538,000. DRW Securities LLC purchased a new position in WEC Energy Group during the 3rd quarter worth approximately $1,392,000. Motley Fool Wealth Management LLC increased its position in WEC Energy Group by 51.0% during the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider's stock worth $2,883,000 after buying an additional 10,126 shares during the period. Finally, Gateway Investment Advisers LLC lifted its stake in WEC Energy Group by 20.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider's stock valued at $42,689,000 after buying an additional 78,580 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company's stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares of the company's stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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WEC Energy Group Stock Performance

NYSE WEC traded down $1.46 during trading hours on Tuesday, hitting $104.32. 1,852,760 shares of the stock were exchanged, compared to its average volume of 2,018,645. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $110.19. The stock has a 50-day moving average of $102.87 and a 200 day moving average of $98.63.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WEC shares. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, WEC Energy Group presently has an average rating of "Hold" and a consensus price target of $101.88.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.