Cibc World Markets Corp Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Cibc World Markets Corp boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,904 shares of the utilities provider's stock after acquiring an additional 7,044 shares during the period. Cibc World Markets Corp's holdings in WEC Energy Group were worth $4,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. GWN Securities Inc. bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $256,000. Harbour Investments Inc. lifted its holdings in WEC Energy Group by 30.6% during the fourth quarter. Harbour Investments Inc. now owns 34,171 shares of the utilities provider's stock worth $3,213,000 after buying an additional 7,998 shares during the period. Pollock Investment Advisors LLC bought a new stake in WEC Energy Group during the 4th quarter valued at $1,034,000. Choate Investment Advisors increased its holdings in shares of WEC Energy Group by 8.6% in the 4th quarter. Choate Investment Advisors now owns 2,747 shares of the utilities provider's stock valued at $258,000 after acquiring an additional 218 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of WEC Energy Group by 7.2% in the 4th quarter. Natixis Advisors LLC now owns 295,607 shares of the utilities provider's stock worth $27,799,000 after acquiring an additional 19,773 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

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Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the business'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 transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted 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 lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and raised their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, KeyCorp upped their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $101.88.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $0.97 on Monday, hitting $105.85. 1,725,073 shares of the company were exchanged, compared to its average volume of 2,019,629. The firm has a market capitalization of $33.43 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. 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 1-year low of $77.47 and a 1-year high of $110.19. The stock's 50 day moving average price is $102.63 and its 200 day moving average price is $98.55.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share 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 analysts' expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Profile

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.