WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 931,732 shares of the utilities provider's stock after selling 23,150 shares during the period. Bessemer Group Inc. owned about 0.29% of WEC Energy Group worth $87,621,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WEC. Azimuth Capital Investment Management LLC raised its stake in WEC Energy Group by 179.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 226,067 shares of the utilities provider's stock valued at $21,259,000 after buying an additional 145,148 shares during the last quarter. Faithward Advisors LLC lifted its holdings in WEC Energy Group by 7.4% in the fourth quarter. Faithward Advisors LLC now owns 4,658 shares of the utilities provider's stock valued at $438,000 after acquiring an additional 321 shares during the period. APG Asset Management N.V. purchased a new position in WEC Energy Group in the fourth quarter worth about $15,520,000. Advisory Services Network LLC grew its stake in shares of WEC Energy Group by 1.3% during the 4th quarter. Advisory Services Network LLC now owns 49,456 shares of the utilities provider's stock valued at $4,651,000 after purchasing an additional 612 shares during the period. Finally, Bank of Nova Scotia increased its position in shares of WEC Energy Group by 14.8% during the 4th quarter. Bank of Nova Scotia now owns 56,286 shares of the utilities provider's stock valued at $5,293,000 after purchasing an additional 7,264 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Up 0.1 %

Shares of NYSE:WEC traded up $0.09 during trading on Tuesday, reaching $108.57. The stock had a trading volume of 549,626 shares, compared to its average volume of 2,138,131. The firm's 50-day simple moving average is $105.35 and its 200 day simple moving average is $99.91. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The company has a market capitalization of $34.64 billion, a P/E ratio of 22.48, a PEG ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced 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 net margin of 17.75% and a return on equity of 12.39%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Activity at WEC Energy Group

In other news, 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 owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated 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 $29,865,612.10. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WEC shares. Barclays raised shares of 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 report on Thursday, January 2nd. Wells Fargo & Company raised their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. StockNews.com lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Finally, BMO Capital Markets raised their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, WEC Energy Group presently has an average rating of "Hold" and a consensus price target of $104.38.

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.