Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in WEC Energy Group, Inc. (NYSE:WEC)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 512,787 shares of the utilities provider’s stock after acquiring an additional 55,836 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of WEC Energy Group worth $48,094,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position 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 purchasing an additional 105,580 shares during the period. JPMorgan Chase & Co. grew its holdings in 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 worth $462,276,000 after acquiring an additional 699,177 shares during the period. Wellington Management Group LLP raised its position in WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after acquiring an additional 4,691,017 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 87,711 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of WEC Energy Group by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock worth $212,691,000 after purchasing an additional 46,609 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $107.50 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business’s fifty day moving average price is $103.59 and its two-hundred day moving average price is $98.89. The stock has a market cap of $33.95 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19.

WEC Energy Group (NYSE:WEC) last posted 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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Ratings Changes

WEC has been the subject of a number of research analyst reports. KeyCorp increased their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Wells Fargo & Company upped their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and an average target price of $101.88.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the 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 approximately $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.

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.