Wellington Management Group LLP Raises Stake in WEC Energy Group, Inc. (NYSE:WEC)

Wellington Management Group LLP raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 134.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,047,753 shares of the utilities provider's stock after buying an additional 6,329,574 shares during the period. Wellington Management Group LLP owned about 3.50% of WEC Energy Group worth $1,038,931,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WEC. Larson Financial Group LLC increased 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 purchasing an additional 268 shares in the last quarter. Human Investing LLC purchased a new stake in WEC Energy Group in the 4th quarter worth $52,000. Cullen Frost Bankers Inc. lifted its position in shares of WEC Energy Group by 140.8% in the fourth 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 in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the fourth quarter valued at about $56,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of WEC Energy Group in the fourth quarter worth about $59,000. 77.20% of the stock is currently owned by institutional investors.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction 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 transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the director now owns 274,955 shares of the company's stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded down $4.16 during trading hours on Friday, reaching $104.37. The company's stock had a trading volume of 3,569,899 shares, compared to its average volume of 2,115,411. The firm has a 50 day moving average price of $104.53 and a 200-day moving average price of $99.35. 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 stock has a market cap of $33.30 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00.

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 the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company's revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 earnings per share. On average, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Analyst Ratings Changes

WEC has been the topic of a number of research analyst reports. Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a report on Monday, December 9th. Wells Fargo & Company boosted 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. BMO Capital Markets raised 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 upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Finally, Bank of America upgraded WEC Energy Group from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, WEC Energy Group presently has an average rating of "Hold" and an average target price 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.