Axxcess Wealth Management LLC Increases Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Axxcess Wealth Management LLC lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,235 shares of the utilities provider’s stock after purchasing an additional 1,248 shares during the quarter. Axxcess Wealth Management LLC’s holdings in WEC Energy Group were worth $586,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WEC. Wellington Management Group LLP raised its position 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 worth $453,794,000 after buying an additional 4,691,017 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in WEC Energy Group in the fourth quarter valued at about $188,879,000. Charles Schwab Investment Management Inc. boosted its holdings in WEC Energy Group by 102.6% in 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 in the last quarter. JPMorgan Chase & Co. increased its position 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 worth $462,276,000 after purchasing an additional 699,177 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after buying an additional 695,317 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

WEC stock opened at $106.76 on Friday. The stock’s 50 day moving average price is $102.63 and its 200 day moving average price is $98.49. The firm has a market cap of $33.72 billion, a P/E ratio of 22.10, a PEG ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WEC. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. 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 report on Thursday, December 12th. Finally, BMO Capital Markets boosted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $101.88.

WEC Energy Group 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.