WEC Energy Group, Inc. (NYSE:WEC) Position Increased by Belpointe Asset Management LLC

Belpointe Asset Management LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,028 shares of the utilities provider’s stock after purchasing an additional 5,603 shares during the period. Belpointe Asset Management LLC’s holdings in WEC Energy Group were worth $3,445,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Marshall Financial Group LLC increased its holdings in shares of WEC Energy Group by 4.8% in the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 100 shares during the period. Horizon Investments LLC grew its position in WEC Energy Group by 1.9% during the fourth quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 109 shares in the last quarter. Wealth Alliance increased its stake in WEC Energy Group by 0.8% in the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock valued at $1,325,000 after buying an additional 110 shares during the period. Advisor OS LLC lifted its position in WEC Energy Group by 3.5% in the 4th quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider’s stock worth $303,000 after buying an additional 110 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in WEC Energy Group by 14.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider’s stock worth $86,000 after buying an additional 118 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Stock Up 1.3 %

Shares of WEC Energy Group stock opened at $106.84 on Monday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. 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 stock has a 50 day moving average price of $105.20 and a two-hundred day moving average price of $99.82. The stock has a market capitalization of $34.09 billion, a P/E ratio of 22.12, a PEG ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. Equities 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 other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’s 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 owns 274,955 shares of the company’s stock, valued at $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 the company’s stock in a transaction that occurred 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 owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.38.

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.