Alta Capital Management LLC Acquires 623 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Alta Capital Management LLC raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,906 shares of the utilities provider’s stock after purchasing an additional 623 shares during the quarter. Alta Capital Management LLC’s holdings in WEC Energy Group were worth $2,265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WEC. Advisors Capital Management LLC boosted its holdings in shares of WEC Energy Group by 2.3% in the 3rd quarter. Advisors Capital Management LLC now owns 4,799 shares of the utilities provider’s stock worth $444,000 after buying an additional 108 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in WEC Energy Group by 12.1% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,059 shares of the utilities provider’s stock valued at $99,000 after purchasing an additional 114 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in WEC Energy Group by 1.2% during the third quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider’s stock valued at $837,000 after purchasing an additional 127 shares during the last quarter. Balentine LLC grew its position in WEC Energy Group by 2.7% during the third quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 131 shares during the last quarter. Finally, Blossom Wealth Management grew its position in WEC Energy Group by 3.6% during the third quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 132 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 0.9 %

Shares of NYSE WEC traded down $0.72 during mid-day trading on Monday, reaching $81.40. 359,528 shares of the company were exchanged, compared to its average volume of 2,296,427. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. The stock has a market cap of $25.68 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 2.86 and a beta of 0.40. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $99.26. The firm has a 50-day moving average of $79.50 and a 200 day moving average of $81.70.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company’s quarterly revenue was down 13.3% on a year-over-year basis. On average, research analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

Analyst Ratings Changes

WEC has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $90.00 to $84.00 in a research note on Friday, February 2nd. Barclays dropped their price objective on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. KeyCorp increased their price objective on WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Finally, StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.17.

Insider Transactions at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.