Summit Financial LLC Boosts Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Summit Financial LLC lifted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 62.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,911 shares of the utilities provider's stock after purchasing an additional 3,827 shares during the quarter. Summit Financial LLC's holdings in WEC Energy Group were worth $932,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of WEC Energy Group during the 4th quarter worth $188,879,000. JPMorgan Chase & Co. raised its holdings in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Donaldson Capital Management LLC purchased a new position in WEC Energy Group during the fourth quarter worth about $36,421,000. Finally, Retirement Systems of Alabama increased its position in shares of WEC Energy Group by 518.8% during the third quarter. Retirement Systems of Alabama now owns 431,103 shares of the utilities provider's stock valued at $41,463,000 after acquiring an additional 361,434 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

WEC Energy Group Stock Down 1.1 %

WEC traded down $1.15 on Monday, reaching $103.21. The company's stock had a trading volume of 1,324,143 shares, compared to its average volume of 2,112,692. The stock has a 50 day moving average of $104.53 and a two-hundred day moving average of $99.38. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $32.93 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 EPS. As a group, analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WEC. StockNews.com lowered WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. Barclays raised 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 research note on Thursday, January 2nd. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, WEC Energy Group has a consensus rating of "Hold" and an average target price of $101.88.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly owns 21,951 shares of the company's stock, valued at $2,286,635.67. This represents a 4.98 % 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 Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred 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. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

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.