Dorsey & Whitney Trust CO LLC Increases Stake in WEC Energy Group, Inc. (NYSE:WEC)

Dorsey & Whitney Trust CO LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 249.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,070 shares of the utilities provider's stock after acquiring an additional 7,187 shares during the quarter. Dorsey & Whitney Trust CO LLC's holdings in WEC Energy Group were worth $947,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC raised its stake in shares of WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider's stock valued at $2,500,680,000 after acquiring an additional 25,975,652 shares during the period. Geode Capital Management LLC raised its stake in shares of WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider's stock valued at $762,453,000 after acquiring an additional 105,580 shares during the period. JPMorgan Chase & Co. raised its stake in shares of WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after acquiring an additional 699,177 shares during the period. Wellington Management Group LLP grew its holdings in shares of WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock worth $363,350,000 after purchasing an additional 87,711 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WEC. KeyCorp upped their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and increased their target price for the stock 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 report on Thursday, February 6th. Finally, Scotiabank increased their target price on shares of 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 analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $101.88.

WEC Energy Group Stock Down 1.0 %

Shares of NYSE:WEC traded down $1.05 during trading on Wednesday, reaching $104.72. The stock had a trading volume of 2,699,798 shares, compared to its average volume of 2,011,364. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19. The company has a market capitalization of $33.07 billion, a P/E ratio of 21.68, a PEG 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. The firm's 50-day simple moving average is $100.77 and its 200 day simple moving average is $97.84.

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 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. The firm's quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the firm's 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 sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the 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 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 disclosure for this sale can be found here. Company insiders own 0.34% 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.