Simplicity Solutions LLC Sells 626 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Simplicity Solutions LLC lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,270 shares of the utilities provider’s stock after selling 626 shares during the period. Simplicity Solutions LLC’s holdings in WEC Energy Group were worth $612,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Advisors Capital Management LLC grew its position in WEC Energy Group by 2.3% in the 3rd quarter. Advisors Capital Management LLC now owns 4,799 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 108 shares during the period. Stonebridge Capital Advisors LLC grew its position in shares of WEC Energy Group by 12.1% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,059 shares of the utilities provider’s stock valued at $99,000 after acquiring an additional 114 shares during the period. Portside Wealth Group LLC grew its position in shares of WEC Energy Group by 1.2% during the 3rd quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider’s stock valued at $837,000 after acquiring an additional 127 shares during the period. Balentine LLC grew its position in shares of WEC Energy Group by 2.7% during the 3rd quarter. Balentine LLC now owns 4,899 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 131 shares during the period. Finally, Blossom Wealth Management grew its position in shares of WEC Energy Group by 3.6% during the 3rd quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 132 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 2.3 %

Shares of NYSE WEC opened at $79.61 on Thursday. The firm’s 50-day moving average price is $79.64 and its 200-day moving average price is $81.32. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $25.11 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 2.71 and a beta of 0.40. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $98.80.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WEC shares. Royal Bank of Canada cut their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. JPMorgan Chase & Co. downgraded shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Wells Fargo & Company cut their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. KeyCorp boosted their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $78.00 target price (down previously from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $86.31.

Insider Buying and Selling

In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. 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.