WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 32.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,402 shares of the utilities provider’s stock after acquiring an additional 1,828 shares during the quarter. Sierra Summit Advisors LLC’s holdings in WEC Energy Group were worth $696,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares during the period. Raymond James Financial Inc. bought a new position in WEC Energy Group in the 4th quarter valued at about $188,879,000. JPMorgan Chase & Co. increased its stake in 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 valued at $462,276,000 after buying an additional 699,177 shares during the period. Donaldson Capital Management LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth about $36,421,000. Finally, Federated Hermes Inc. lifted its stake in shares of WEC Energy Group by 24.4% in the 4th quarter. Federated Hermes Inc. now owns 1,972,553 shares of the utilities provider’s stock worth $185,499,000 after acquiring an additional 387,178 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Down 3.8 %

Shares of WEC Energy Group stock opened at $104.37 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The firm has a market capitalization of $33.30 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The stock’s fifty day moving average is $104.53 and its 200-day moving average is $99.38.

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 firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company posted $1.10 earnings per share. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Scotiabank raised their target price on 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. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.88.

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.