OV Management LLC Raises Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

OV Management LLC raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,212 shares of the utilities provider’s stock after purchasing an additional 1,612 shares during the quarter. OV Management LLC’s holdings in WEC Energy Group were worth $1,807,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased 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 worth $26,000 after buying an additional 268 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group in the 4th quarter valued at $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group in the fourth quarter worth $42,000. Human Investing LLC purchased a new position in shares of WEC Energy Group during the fourth quarter worth $52,000. Finally, Cullen Frost Bankers Inc. lifted its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 345 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $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 available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Stock Performance

WEC opened at $109.14 on Tuesday. The firm’s fifty day simple moving average is $103.79 and its two-hundred day simple moving average is $99.04. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The company has a market cap of $34.47 billion, a price-to-earnings ratio of 22.60, a PEG 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 (NYSE:WEC) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on WEC. Wells Fargo & Company increased their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Scotiabank lifted their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. 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 report on Thursday, January 2nd. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, BMO Capital Markets upped their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.