Alliancebernstein L.P. Trims Position in WEC Energy Group, Inc. (NYSE:WEC)

Alliancebernstein L.P. trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,297 shares of the utilities provider's stock after selling 58,277 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of WEC Energy Group worth $32,754,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WEC. Larson Financial Group LLC lifted 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 worth $26,000 after acquiring an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group during the fourth quarter worth $28,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter worth $52,000. Cullen Frost Bankers Inc. grew its position in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after buying an additional 345 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $56,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

WEC stock traded up $1.33 during midday trading on Friday, hitting $106.84. 1,855,311 shares of the stock were exchanged, compared to its average volume of 2,143,502. The stock's 50-day moving average price is $105.20 and its 200-day moving average price is $99.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The stock has a market cap of $34.09 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly 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 firm 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 company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. Research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. BMO Capital Markets lifted their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. Barclays raised WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $106.00 to $108.00 in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has an average rating of "Hold" and an average target price of $104.38.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares of the company's stock, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.44% of the company's stock.

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.