Alta Capital Management LLC Grows Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Alta Capital Management LLC lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,999 shares of the utilities provider's stock after purchasing an additional 3,262 shares during the quarter. Alta Capital Management LLC's holdings in WEC Energy Group were worth $3,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Annex Advisory Services LLC grew its position in WEC Energy Group by 6.5% in the 4th 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 during the period. Matrix Trust Co bought a new stake in shares of WEC Energy Group in the fourth quarter worth $1,538,000. DRW Securities LLC purchased a new stake in WEC Energy Group during the third quarter valued at $1,392,000. Motley Fool Wealth Management LLC lifted its holdings in WEC Energy Group by 51.0% in the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider's stock valued at $2,883,000 after acquiring an additional 10,126 shares during the period. Finally, Gateway Investment Advisers LLC boosted its position 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 worth $42,689,000 after purchasing an additional 78,580 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other news, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now 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 disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

Analysts Set New Price Targets

WEC has been the subject of several research reports. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. BMO Capital Markets boosted their price objective on shares of 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. Finally, Scotiabank raised their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, WEC Energy Group presently has an average rating of "Hold" and an average price target of $101.88.

WEC Energy Group Price Performance

Shares of WEC stock traded up $3.09 on Friday, hitting $106.89. 3,884,535 shares of the stock traded hands, compared to its average volume of 2,281,444. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $108.87. The firm has a 50 day simple moving average of $99.78 and a two-hundred day simple moving average of $97.38. The firm has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45.

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