Modern Wealth Management LLC Raises Stake in WEC Energy Group, Inc. (NYSE:WEC)

Modern Wealth Management LLC raised its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 70.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,488 shares of the utilities provider's stock after buying an additional 2,684 shares during the period. Modern Wealth Management LLC's holdings in WEC Energy Group were worth $657,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in shares of WEC Energy Group by 17.3% during the third quarter. Thrivent Financial for Lutherans now owns 26,277 shares of the utilities provider's stock worth $2,527,000 after purchasing an additional 3,880 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in WEC Energy Group by 11.5% during the third quarter. Daiwa Securities Group Inc. now owns 38,499 shares of the utilities provider's stock worth $3,703,000 after buying an additional 3,980 shares in the last quarter. Private Trust Co. NA lifted its position in WEC Energy Group by 2.9% during the third quarter. Private Trust Co. NA now owns 5,389 shares of the utilities provider's stock worth $518,000 after buying an additional 152 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in WEC Energy Group by 2.2% during the third quarter. The Manufacturers Life Insurance Company now owns 201,182 shares of the utilities provider's stock worth $19,350,000 after buying an additional 4,411 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in WEC Energy Group in the 3rd quarter valued at $118,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

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WEC Energy Group Trading Up 1.5 %

Shares of NYSE:WEC traded up $1.59 during mid-day trading on Monday, reaching $109.14. 2,572,634 shares of the company were exchanged, compared to its average volume of 2,086,687. The firm has a market cap of $34.47 billion, a price-to-earnings ratio of 22.60, a P/E/G 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 1 year low of $77.47 and a 1 year high of $110.19. The firm's 50-day simple moving average is $103.79 and its 200 day simple moving average is $99.04.

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 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 analyst estimates of $2.50 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The company's quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Analyst Ratings Changes

WEC has been the topic of several analyst reports. StockNews.com lowered WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. Scotiabank boosted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a report on Monday, December 9th. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and increased their price target for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Finally, Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. One research 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. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and a consensus price target of $101.88.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were 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 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction on Monday, February 24th. The stock was 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 $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 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.