Corient Private Wealth LLC Lowers Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Corient Private Wealth LLC decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 237,247 shares of the utilities provider’s stock after selling 24,594 shares during the quarter. Corient Private Wealth LLC’s holdings in WEC Energy Group were worth $22,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC grew its holdings in shares of 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 purchasing an additional 268 shares during the period. Human Investing LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter worth about $52,000. Cullen Frost Bankers Inc. grew its holdings in shares of 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 purchasing an additional 345 shares during the period. Bank of Jackson Hole Trust purchased a new stake in shares of WEC Energy Group during the 4th quarter worth about $59,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC opened at $107.83 on Wednesday. The business’s 50 day moving average is $101.84 and its two-hundred day moving average is $98.26. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The firm has a market cap of $34.05 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 2.60 and a beta of 0.45. 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 (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 during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Scotiabank boosted their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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 the company’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 transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction that occurred 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 directly owns 274,955 shares in the company, valued at approximately $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. 0.34% of the stock is currently owned by corporate insiders.

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.