WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 13.3% in the fourth quarter, Holdings Channel reports. The firm owned 113,927 shares of the utilities provider’s stock after buying an additional 13,410 shares during the period. HighTower Advisors LLC’s holdings in WEC Energy Group were worth $10,714,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 268 shares during the period. Coastline Trust Co acquired a new stake in WEC Energy Group during the 3rd quarter worth about $29,000. Human Investing LLC acquired a new stake in WEC Energy Group during the 4th quarter worth about $52,000. Cullen Frost Bankers Inc. lifted its position in WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 345 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new stake in WEC Energy Group during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $106.89 on Monday. 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, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19. The business has a 50-day moving average price of $101.25 and a 200 day moving average price of $98.06. The firm has a market cap of $33.76 billion, a PE ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Scotiabank lifted their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. BMO Capital Markets lifted their price target on 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. Wells Fargo & Company lifted 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. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. One research 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, the stock has a consensus rating of “Hold” and a consensus target price of $101.88.

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.