Moment Partners LLC Buys New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Moment Partners LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,338 shares of the utilities provider’s stock, valued at approximately $314,000.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of WEC Energy Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after acquiring an additional 105,580 shares during the period. JPMorgan Chase & Co. lifted 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. Wellington Management Group LLP boosted its position in WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of WEC Energy Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after purchasing an additional 87,711 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of WEC Energy Group by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock worth $212,691,000 after buying an additional 46,609 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. KeyCorp upped their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank increased their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.88.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. The trade was a 4.98 % 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 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 transaction, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $105.73 on Thursday. The business has a fifty day moving average price of $103.27 and a two-hundred day moving average price of $98.75. The stock has a market capitalization of $33.39 billion, a PE ratio of 21.89, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $110.19.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results 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 net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share 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.