Polymer Capital Management US LLC Acquires New Position in WEC Energy Group, Inc. (NYSE:WEC)

Polymer Capital Management US LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,429 shares of the utilities provider's stock, valued at approximately $511,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted 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 worth $26,000 after acquiring an additional 268 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in WEC Energy Group in the 4th quarter valued at about $28,000. Hoey Investments Inc. purchased a new position in WEC Energy Group in the fourth quarter worth $42,000. Human Investing LLC purchased a new position in shares of WEC Energy Group in the 4th quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 345 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Price Performance

Shares of NYSE WEC traded up $1.33 during midday trading on Friday, reaching $106.84. The stock 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 price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The stock has a 50-day moving average of $105.20 and a 200-day moving average of $99.78. 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 (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 for the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The company's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 transaction of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm'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 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 trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on WEC shares. Wells Fargo & Company boosted their price objective 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. StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. BMO Capital Markets increased 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 report on Wednesday, February 5th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $106.00 to $108.00 in a research note on Tuesday. Finally, Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $89.00 to $93.00 in a 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $104.38.

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.