Pictet Asset Management Holding SA Has $131.19 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Pictet Asset Management Holding SA decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 26.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,395,073 shares of the utilities provider's stock after selling 491,648 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.44% of WEC Energy Group worth $131,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $116,000. Blair William & Co. IL grew its stake in shares of WEC Energy Group by 0.4% in the fourth quarter. Blair William & Co. IL now owns 44,266 shares of the utilities provider's stock valued at $4,163,000 after acquiring an additional 168 shares in the last quarter. AssuredPartners Investment Advisors LLC bought a new position in WEC Energy Group during the fourth quarter worth about $394,000. NEOS Investment Management LLC raised its stake in WEC Energy Group by 29.7% in the 4th quarter. NEOS Investment Management LLC now owns 16,292 shares of the utilities provider's stock worth $1,532,000 after purchasing an additional 3,728 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in WEC Energy Group by 23.8% in the 4th quarter. UniSuper Management Pty Ltd now owns 31,027 shares of the utilities provider's stock valued at $2,918,000 after purchasing an additional 5,959 shares during the period. Institutional investors own 77.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Bank of America upgraded WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank boosted their price target 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. Finally, BMO Capital Markets upped their price objective on shares of 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. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.88.

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WEC Energy Group Price Performance

NYSE WEC traded down $0.18 during trading on Wednesday, hitting $108.71. 448,281 shares of the company's stock were exchanged, compared to its average volume of 2,314,293. The company has a market cap of $34.33 billion, a PE ratio of 22.51, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $110.19. The stock's 50 day moving average price is $103.96 and its two-hundred day moving average price is $99.13.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. Research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business'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 transaction of $119,795.50. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction on 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 transaction, the director now owns 274,955 shares in the company, 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. Insiders own 0.34% of the company's stock.

WEC Energy Group Company 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.