Donaldson Capital Management LLC Acquires New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Donaldson Capital Management LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 387,293 shares of the utilities provider's stock, valued at approximately $36,421,000. WEC Energy Group comprises about 1.4% of Donaldson Capital Management LLC's holdings, making the stock its 29th largest position. Donaldson Capital Management LLC owned 0.12% of WEC Energy Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WEC. Annex Advisory Services LLC raised its position in shares of 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 acquiring an additional 6,785 shares in the last quarter. Matrix Trust Co bought a new stake in WEC Energy Group in the fourth quarter valued at $1,538,000. DRW Securities LLC acquired a new position in shares of WEC Energy Group during the third quarter valued at about $1,392,000. Motley Fool Wealth Management LLC boosted its position in shares of WEC Energy Group by 51.0% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider's stock worth $2,883,000 after purchasing an additional 10,126 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its stake in shares of WEC Energy Group by 20.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider's stock valued at $42,689,000 after buying an additional 78,580 shares during the period. Institutional investors and hedge funds own 77.20% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of research firms recently weighed in on WEC. 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 note on Wednesday, December 4th. Scotiabank upped their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a research report on Monday, December 9th. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $101.88.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 274,955 shares in the company, valued at $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. Corporate insiders own 0.34% of the company's stock.

WEC Energy Group Stock Down 0.7 %

Shares of NYSE WEC traded down $0.78 during trading on Wednesday, hitting $104.99. The stock had a trading volume of 1,231,862 shares, compared to its average volume of 2,004,023. The firm has a fifty day moving average of $100.55 and a two-hundred day moving average of $97.79. The company has a market capitalization of $33.16 billion, a PE ratio of 21.77, a PEG ratio of 2.60 and a beta of 0.45. 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 12 month low of $77.47 and a 12 month high of $110.19.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted $1.10 earnings per share. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal 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.