WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 134.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,047,753 shares of the utilities provider's stock after buying an additional 6,329,574 shares during the quarter. Wellington Management Group LLP owned 3.50% of WEC Energy Group worth $1,038,931,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after buying an additional 268 shares during the last quarter. Human Investing LLC purchased a new position in WEC Energy Group in the fourth quarter valued at about $52,000. Cullen Frost Bankers Inc. grew its stake in 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 purchasing an additional 345 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in WEC Energy Group during the 4th quarter worth approximately $56,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $59,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now owns 21,951 shares of the company's stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Remove Ads

WEC Energy Group Stock Performance

WEC traded down $0.46 on Thursday, hitting $108.38. 4,675,165 shares of the company's stock were exchanged, compared to its average volume of 2,101,225. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average of $104.19 and a two-hundred day moving average of $99.20. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The firm has a market cap of $34.23 billion, a PE ratio of 22.44, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results 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). 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%. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on WEC. StockNews.com downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. BMO Capital Markets upped 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 research note on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Scotiabank boosted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a report on Monday, December 9th. 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $101.88.

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.