WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Wealth Alliance

Wealth Alliance lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,423 shares of the utilities provider’s stock after selling 500 shares during the quarter. Wealth Alliance’s holdings in WEC Energy Group were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $251,000. CTC Alternative Strategies Ltd. acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $1,989,000. Carnegie Capital Asset Management LLC acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $205,000. Louisiana State Employees Retirement System acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $1,608,000. Finally, Vaughan David Investments LLC IL increased its holdings in shares of WEC Energy Group by 3.4% in the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider’s stock valued at $36,059,000 after acquiring an additional 14,084 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Bank of America reiterated an “underperform” rating and issued a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. KeyCorp lifted their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Finally, Barclays lowered their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.31.

WEC Energy Group Trading Down 1.4 %

Shares of WEC stock opened at $77.79 on Wednesday. The stock has a 50-day simple moving average of $79.61 and a 200 day simple moving average of $81.33. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $98.80. The stock has a market capitalization of $24.54 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.74 and a beta of 0.40. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating 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 analysts’ expectations of $2.82 billion. During the same quarter last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was down 13.3% on a year-over-year basis. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

Insider Activity at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction on Thursday, February 29th. The stock was 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 owns 43,125 shares in the company, valued at approximately $3,402,131.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Company insiders own 0.44% 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.