WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,455 shares of the utilities provider’s stock after purchasing an additional 779 shares during the quarter. HBK Sorce Advisory LLC’s holdings in WEC Energy Group were worth $513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WEC. Larson Financial Group LLC grew its holdings in shares of WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares during the period. Coastline Trust Co purchased a new position in shares of WEC Energy Group during the 3rd quarter worth $29,000. Human Investing LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth $52,000. Cullen Frost Bankers Inc. grew its holdings in shares of WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 345 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new position in shares of WEC Energy Group during the 4th quarter worth $59,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

WEC stock opened at $106.89 on Friday. 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 firm has a market capitalization of $33.76 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 0.45. The business’s 50-day moving average is $101.25 and its two-hundred day moving average is $97.98. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Transactions at WEC Energy Group

In other news, 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 sale, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WEC. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a 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. KeyCorp increased their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank increased their target price 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. Finally, Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.88.

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.