Blueshift Asset Management LLC Purchases New Stake in WEC Energy Group, Inc. (NYSE:WEC)

Blueshift Asset Management LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,323 shares of the utilities provider’s stock, valued at approximately $218,000.

A number of other large investors have also added to or reduced their stakes in WEC. Larson Financial Group LLC grew its holdings 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 in the last quarter. Human Investing LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $52,000. Cullen Frost Bankers Inc. grew its holdings in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after buying an additional 345 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $56,000. Finally, Bank of Jackson Hole Trust acquired a new position in WEC Energy Group in the 4th quarter valued at $59,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE:WEC opened at $106.76 on Friday. The stock’s 50-day simple moving average is $102.63 and its 200 day simple moving average is $98.52. The firm has a market capitalization of $33.72 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19.

WEC Energy Group (NYSE:WEC) last released 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 business 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%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.10 earnings per share. On average, analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WEC. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. KeyCorp upped their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Scotiabank upped 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. 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 report on Thursday, December 12th. Finally, 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 report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $101.88.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

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.