Wells Fargo & Company MN Decreases Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Wells Fargo & Company MN cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,814,776 shares of the utilities provider's stock after selling 107,727 shares during the quarter. Wells Fargo & Company MN owned about 2.47% of WEC Energy Group worth $734,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. PAX Financial Group LLC increased its stake in shares of WEC Energy Group by 4.8% during the fourth quarter. PAX Financial Group LLC now owns 6,195 shares of the utilities provider's stock valued at $583,000 after purchasing an additional 281 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in WEC Energy Group by 19.1% in the fourth quarter. Arete Wealth Advisors LLC now owns 4,261 shares of the utilities provider's stock worth $399,000 after acquiring an additional 682 shares in the last quarter. World Investment Advisors grew its stake in shares of WEC Energy Group by 9.6% in the fourth quarter. World Investment Advisors now owns 23,090 shares of the utilities provider's stock worth $2,171,000 after acquiring an additional 2,015 shares during the last quarter. Nicolet Advisory Services LLC raised its position in shares of WEC Energy Group by 5.6% in the 4th quarter. Nicolet Advisory Services LLC now owns 123,560 shares of the utilities provider's stock worth $11,542,000 after purchasing an additional 6,565 shares during the last quarter. Finally, OneAscent Financial Services LLC bought a new position in WEC Energy Group in the 4th quarter worth about $209,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Wells Fargo & Company increased 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. 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 research note on Monday, December 9th. Barclays raised WEC Energy Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Bank of America upgraded shares of 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 note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group has a consensus rating of "Hold" and a consensus price target of $102.56.

Insider Activity

In other WEC Energy Group news, 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 transaction of $2,715,500.00. Following the transaction, the director now owns 274,955 shares of the company's stock, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction 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 approximately $2,286,635.67. This trade represents a 4.98 % 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 Stock Performance

WEC stock traded down $0.36 during midday trading on Tuesday, reaching $102.86. 1,689,942 shares of the company's stock traded hands, compared to its average volume of 2,122,224. 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 52-week low of $77.47 and a 52-week high of $111.00. The stock has a market cap of $32.82 billion, a P/E ratio of 21.30, a PEG ratio of 2.60 and a beta of 0.44. The stock's 50-day moving average is $104.58 and its 200 day moving average is $99.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.28 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

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.