9,978 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE bought a new position in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,978 shares of the utilities provider’s stock, valued at approximately $938,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WEC. Wellington Management Group LLP lifted its position in WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after purchasing an additional 4,691,017 shares during the period. Raymond James Financial Inc. purchased a new stake in WEC Energy Group during the 4th quarter valued at $188,879,000. JPMorgan Chase & Co. lifted its holdings in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of WEC Energy Group by 57.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after buying an additional 695,317 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in shares of WEC Energy Group by 897.4% in the third quarter. Benjamin Edwards Inc. now owns 568,629 shares of the utilities provider’s stock worth $54,694,000 after acquiring an additional 511,618 shares during the period. Institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on 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 sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was 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 corporate insiders.

WEC Energy Group Stock Up 0.4 %

Shares of WEC stock opened at $106.27 on Friday. The company has a market capitalization of $33.56 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.60 and a beta of 0.45. 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 company’s fifty day moving average price is $103.42 and its 200-day moving average price is $98.81. WEC Energy Group, Inc. has a one year low of $77.47 and a one 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 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate 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 was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. Sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on WEC shares. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price objective 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. Bank of America raised 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 report on Thursday, December 12th. Scotiabank lifted their price target on shares of 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, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. One 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’s stock. According to MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus target price of $101.88.

About WEC Energy Group

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.