TIAA Trust National Association Has $1.05 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

TIAA Trust National Association lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,187 shares of the utilities provider’s stock after selling 436 shares during the quarter. TIAA Trust National Association’s holdings in WEC Energy Group were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Annex Advisory Services LLC raised its holdings in WEC Energy Group by 6.5% in the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock valued at $10,405,000 after acquiring an additional 6,785 shares during the period. Matrix Trust Co bought a new position in shares of WEC Energy Group during the fourth quarter worth approximately $1,538,000. Motley Fool Wealth Management LLC increased its stake in shares of WEC Energy Group by 51.0% during the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock worth $2,883,000 after purchasing an additional 10,126 shares during the period. Gateway Investment Advisers LLC lifted its holdings in WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after purchasing an additional 78,580 shares during the last quarter. Finally, PFW Advisors LLC bought a new stake in WEC Energy Group in the 4th quarter valued at $1,073,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank boosted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on shares of 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 shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, KeyCorp increased their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.88.

Insiders Place Their Bets

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 25,000 shares of the company’s 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 transaction, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

NYSE WEC opened at $106.27 on Friday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19. The firm has a market capitalization of $33.56 billion, a price-to-earnings ratio of 22.00, a P/E/G 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. The firm’s 50 day simple moving average is $103.42 and its 200 day simple moving average is $98.81.

WEC Energy Group (NYSE:WEC) last issued its earnings results 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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business posted $1.10 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.