Vestcor Inc Sells 9,655 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Vestcor Inc trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,914 shares of the utilities provider’s stock after selling 9,655 shares during the period. Vestcor Inc’s holdings in WEC Energy Group were worth $6,951,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WEC. Mizuho Securities USA LLC grew its holdings in WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP grew its holdings in WEC Energy Group by 17,270.5% during the 3rd 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 last quarter. Raymond James Financial Inc. bought a new position in WEC Energy Group during the 4th quarter valued at about $188,879,000. Charles Schwab Investment Management Inc. grew its holdings in WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 699,177 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WEC shares. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. KeyCorp upped their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.88.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the 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 completion of the sale, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. The trade was 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 corporate insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $104.72 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm’s 50 day moving average price is $100.77 and its 200-day moving average price is $97.84. 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 $33.07 billion, a PE ratio of 21.68, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data 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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Company 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.