2,390 Shares in WEC Energy Group, Inc. (NYSE:WEC) Acquired by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,390 shares of the utilities provider’s stock, valued at approximately $201,000.

Several other hedge funds have also made changes to their positions in WEC. Valeo Financial Advisors LLC purchased a new stake in WEC Energy Group in the fourth quarter worth about $278,000. Cerity Partners LLC lifted its position in shares of WEC Energy Group by 136.5% in the 4th quarter. Cerity Partners LLC now owns 30,751 shares of the utilities provider’s stock worth $2,588,000 after purchasing an additional 17,750 shares during the period. Cedrus LLC purchased a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $217,000. Blossom Wealth Management boosted its stake in shares of WEC Energy Group by 18.5% during the fourth quarter. Blossom Wealth Management now owns 4,500 shares of the utilities provider’s stock valued at $379,000 after purchasing an additional 703 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in WEC Energy Group by 23.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 64,910 shares of the utilities provider’s stock valued at $5,463,000 after buying an additional 12,301 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Stock Up 2.3 %

WEC Energy Group stock opened at $79.61 on Thursday. The business’s 50-day simple moving average is $79.64 and its two-hundred day simple moving average is $81.32. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market cap of $25.11 billion, a PE ratio of 18.86, a PEG ratio of 2.71 and a beta of 0.40. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $98.80.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. WEC Energy Group’s revenue for the quarter was down 13.3% on a year-over-year basis. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on WEC shares. Wells Fargo & Company lowered their target price on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Royal Bank of Canada cut their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Barclays decreased their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. KeyCorp lifted their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Finally, JPMorgan Chase & Co. cut shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $86.31.

About WEC Energy Group

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.