Sit Investment Associates Inc. Has $2.28 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Sit Investment Associates Inc. reduced its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 21.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,195 shares of the utilities provider's stock after selling 6,505 shares during the period. Sit Investment Associates Inc.'s holdings in WEC Energy Group were worth $2,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Financial Group LLC increased its position in WEC Energy Group by 4.8% in the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider's stock valued at $207,000 after acquiring an additional 100 shares in the last quarter. Horizon Investments LLC grew its stake in shares of WEC Energy Group by 1.9% during the fourth quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider's stock valued at $553,000 after purchasing an additional 109 shares during the last quarter. Wealth Alliance increased its holdings in shares of WEC Energy Group by 0.8% in the fourth quarter. Wealth Alliance now owns 14,090 shares of the utilities provider's stock valued at $1,325,000 after purchasing an additional 110 shares in the last quarter. Advisor OS LLC raised its position in WEC Energy Group by 3.5% in the 4th quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider's stock worth $303,000 after purchasing an additional 110 shares during the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in WEC Energy Group by 14.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider's stock worth $86,000 after buying an additional 118 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 1.3 %

Shares of NYSE WEC traded up $1.33 during midday trading on Friday, reaching $106.84. 1,855,311 shares of the stock were exchanged, compared to its average volume of 2,143,502. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.60 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The business has a 50-day simple moving average of $105.20 and a two-hundred day simple moving average of $99.78.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its 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 business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm's revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the company'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 value of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price 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. BMO Capital Markets lifted their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price for the company from $106.00 to $108.00 in a research report on Tuesday. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. Finally, Barclays raised shares of 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.38.

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.