AXQ Capital LP Purchases New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

AXQ Capital LP acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 6,329 shares of the utilities provider's stock, valued at approximately $595,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEC. Larson Financial Group LLC increased its position in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 268 shares during the period. Human Investing LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth $52,000. Cullen Frost Bankers Inc. lifted its stake in WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 345 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at approximately $56,000. Finally, Bank of Jackson Hole Trust purchased a new stake in WEC Energy Group during the 4th quarter worth about $59,000. Institutional investors own 77.20% of the company's stock.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction on 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 sale, the director now directly owns 21,951 shares of the company's stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. KeyCorp increased their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. StockNews.com cut WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. Finally, Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $101.88.

WEC Energy Group Stock Up 0.4 %

Shares of WEC stock traded up $0.47 during mid-day trading on Thursday, hitting $106.27. 1,371,839 shares of the stock traded hands, compared to its average volume of 2,016,299. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The stock's fifty day moving average is $103.27 and its two-hundred day moving average is $98.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The stock has a market cap of $33.56 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.60 and a beta of 0.45.

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

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.