JPMorgan Chase & Co. Sells 429,023 Shares of WEC Energy Group, Inc. (NYSE:WEC)

JPMorgan Chase & Co. cut its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 8.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,377,337 shares of the utilities provider's stock after selling 429,023 shares during the quarter. JPMorgan Chase & Co. owned about 1.38% of WEC Energy Group worth $411,645,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WEC. The Manufacturers Life Insurance Company boosted its position in WEC Energy Group by 2.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 201,182 shares of the utilities provider's stock valued at $19,350,000 after acquiring an additional 4,411 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in WEC Energy Group by 1.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,176 shares of the utilities provider's stock worth $7,038,000 after purchasing an additional 1,367 shares during the period. Public Sector Pension Investment Board raised its holdings in WEC Energy Group by 3.2% in the third quarter. Public Sector Pension Investment Board now owns 55,222 shares of the utilities provider's stock worth $5,311,000 after purchasing an additional 1,700 shares in the last quarter. Financial Counselors Inc. purchased a new position in WEC Energy Group during the third quarter valued at $202,000. Finally, Isthmus Partners LLC purchased a new stake in shares of WEC Energy Group in the 3rd quarter worth about $282,000. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In other 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 sale, the director now owns 21,951 shares of the company's stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents 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 corporate insiders.

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Analysts Set New Price Targets

WEC has been the topic of several research reports. KeyCorp boosted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Scotiabank lifted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a research note on Monday, December 9th. StockNews.com cut WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. One 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.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.88.

WEC Energy Group Stock Performance

WEC Energy Group stock traded down $0.18 during midday trading on Wednesday, reaching $108.71. 842,223 shares of the company traded hands, compared to its average volume of 2,085,745. 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. The firm has a market capitalization of $34.33 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The business has a 50 day moving average of $103.96 and a two-hundred day moving average of $99.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. As a group, research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share 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.