American International Group Inc. raised its stake in WEC Energy Group Inc (NYSE:WEC) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,369 shares of the utilities provider’s stock after purchasing an additional 22,697 shares during the period. American International Group Inc.’s holdings in WEC Energy Group were worth $12,769,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new stake in WEC Energy Group in the fourth quarter valued at $30,000. We Are One Seven LLC bought a new stake in WEC Energy Group in the fourth quarter valued at $30,000. Gantzert Investment Co. LLC ADV bought a new stake in WEC Energy Group in the fourth quarter valued at $35,000. First Mercantile Trust Co. increased its stake in WEC Energy Group by 68.6% in the fourth quarter. First Mercantile Trust Co. now owns 590 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 240 shares in the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in WEC Energy Group in the fourth quarter valued at $41,000. 74.81% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Ulice Payne, Jr. sold 6,700 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $75.29, for a total transaction of $504,443.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles R. Matthews sold 40,295 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $74.77, for a total transaction of $3,012,857.15. Following the transaction, the chief executive officer now owns 26,584 shares in the company, valued at $1,987,685.68. The disclosure for this sale can be found here. Insiders have sold 456,668 shares of company stock valued at $34,330,208 over the last quarter. Corporate insiders own 0.94% of the company’s stock.
Several equities research analysts have weighed in on WEC shares. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Co lifted their price target on shares of WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, February 13th. Argus lifted their price objective on shares of WEC Energy Group to $85.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their price objective on shares of WEC Energy Group from $71.00 to $73.00 and gave the company a “hold” rating in a report on Monday, November 19th. Finally, Credit Suisse Group lifted their price objective on shares of WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and a consensus price target of $74.11.
Shares of NYSE WEC opened at $77.62 on Friday. The stock has a market cap of $24.47 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 5.02 and a beta of 0.15. WEC Energy Group Inc has a 1 year low of $58.48 and a 1 year high of $78.05. The company has a quick ratio of 0.51, a current ratio of 0.67 and a debt-to-equity ratio of 1.02.
WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $1.96 billion. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The business’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. As a group, research analysts anticipate that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.
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About WEC Energy Group
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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