Envestnet Asset Management Inc. Buys 42,016 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Envestnet Asset Management Inc. lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,089,132 shares of the utilities provider's stock after acquiring an additional 42,016 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.66% of WEC Energy Group worth $196,462,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WEC. Larson Financial Group LLC lifted its holdings in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of WEC Energy Group in the fourth quarter valued at about $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group during the 4th quarter worth about $42,000. Human Investing LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. grew its stake in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after buying an additional 345 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares of the company's stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company's stock.

WEC Energy Group Price Performance

NYSE WEC traded up $1.33 during midday trading on Friday, hitting $106.84. The company had a trading volume of 1,855,311 shares, compared to its average volume of 2,143,502. The company has a market capitalization of $34.09 billion, a PE ratio of 22.12, a P/E/G ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. 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 has a 50-day moving average price of $105.20 and a 200-day moving average price of $99.78.

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 company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm earned $1.10 EPS. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WEC shares. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Wells Fargo & Company boosted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $106.00 to $108.00 in a research report on Tuesday. Finally, StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $104.38.

WEC Energy Group Company 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.