WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,084 shares of the utilities provider’s stock after purchasing an additional 467 shares during the period. UNIVEST FINANCIAL Corp’s holdings in WEC Energy Group were worth $1,889,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in WEC Energy Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after buying an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 worth $453,794,000 after purchasing an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in WEC Energy Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after purchasing an additional 87,711 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in WEC Energy Group by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock valued at $212,691,000 after purchasing an additional 46,609 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.4 %

WEC Energy Group stock opened at $105.73 on Thursday. The stock has a 50 day moving average of $103.27 and a two-hundred day moving average of $98.75. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19. The stock has a market capitalization of $33.39 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.60 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

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

Insider Transactions at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction 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 in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Wells Fargo & Company upped their price objective 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. BMO Capital Markets lifted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Scotiabank raised their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock 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 given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.