WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Paragon Private Wealth Management LLC

Paragon Private Wealth Management LLC grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,905 shares of the utilities provider’s stock after purchasing an additional 470 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in WEC Energy Group were worth $743,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mizuho Securities USA LLC increased its holdings in WEC Energy Group by 106,685.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after buying an additional 25,975,652 shares during the period. Wellington Management Group LLP increased its holdings in WEC Energy Group by 17,270.5% in 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 period. Raymond James Financial Inc. acquired a new position in WEC Energy Group in the 4th quarter worth approximately $188,879,000. Charles Schwab Investment Management Inc. increased 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 worth $362,971,000 after buying an additional 1,912,223 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after buying an additional 699,177 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity

In other WEC Energy Group 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 value of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the firm’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 in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WEC shares. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. BMO Capital Markets upped their price objective 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. KeyCorp upped their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Trading Up 3.0 %

Shares of NYSE:WEC opened at $106.89 on Monday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $108.87. The firm has a market capitalization of $33.76 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth 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. The business’s 50 day moving average price is $100.03 and its 200-day moving average price is $97.58.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (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 business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the business earned $1.10 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.