161,600 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 161,600 shares of the utilities provider’s stock, valued at approximately $15,197,000. Adams Diversified Equity Fund Inc. owned approximately 0.05% of WEC Energy Group at the end of the most recent quarter.

Several other large investors have also modified their holdings of WEC. Wellington Management Group LLP boosted its position in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after buying an additional 4,691,017 shares during the period. Raymond James Financial Inc. purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $188,879,000. Charles Schwab Investment Management Inc. boosted its position in shares of WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after buying an additional 1,912,223 shares during the period. JPMorgan Chase & Co. boosted its position in shares of WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of WEC Energy Group by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after buying an additional 695,317 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $107.83 on Friday. The company has a market capitalization of $34.06 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a 50 day moving average of $102.36 and a 200 day moving average of $98.39.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. On average, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The shares were 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 approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WEC shares. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Scotiabank lifted their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.88.

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.