Geode Capital Management LLC Has $756.42 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Geode Capital Management LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,063,653 shares of the utilities provider's stock after acquiring an additional 110,802 shares during the quarter. Geode Capital Management LLC owned about 2.55% of WEC Energy Group worth $756,423,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WEC. Larson Financial Group LLC boosted its stake in shares of WEC Energy Group by 3,828.6% in the fourth 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 period. Prudent Man Investment Management Inc. acquired a new position in WEC Energy Group in the 4th quarter worth $28,000. Hoey Investments Inc. purchased a new position in WEC Energy Group in the 4th quarter valued at about $42,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at about $52,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after acquiring an additional 345 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WEC shares. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective 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. BMO Capital Markets upped their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $101.88.

Remove Ads

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction that occurred 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 sale, the director now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was 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. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC traded down $1.73 during midday trading on Monday, hitting $102.63. The company's stock had a trading volume of 1,455,967 shares, compared to its average volume of 2,112,998. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The firm's fifty day moving average price is $104.53 and its 200-day moving average price is $99.38. The firm has a market cap of $32.75 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced 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 return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

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.