WEC Energy Group, Inc. $WEC Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,721 shares of the utilities provider’s stock after selling 173 shares during the quarter. Inspire Investing LLC’s holdings in WEC Energy Group were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WEC. Nuveen LLC purchased a new position in WEC Energy Group during the 1st quarter valued at about $403,372,000. Charles Schwab Investment Management Inc. boosted its holdings in WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after acquiring an additional 1,349,522 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after buying an additional 726,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock valued at $77,290,000 after buying an additional 665,681 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock valued at $274,564,000 after buying an additional 430,269 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen assumed coverage on WEC Energy Group in a research note on Thursday. They issued a “hold” rating and a $125.00 price objective for the company. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. Finally, UBS Group lifted their price objective on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average target price of $114.64.

WEC Energy Group Trading Down 0.9%

WEC opened at $116.22 on Friday. The firm has a market cap of $37.41 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 3.31 and a beta of 0.47. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $118.10. The business’s 50 day moving average is $110.41 and its two-hundred day moving average is $107.91. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The company had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. On average, research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the transaction, the vice president owned 1,757 shares of the company’s stock, valued at $193,797.10. The trade was a 70.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gale E. Klappa sold 35,000 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the transaction, the director directly owned 274,969 shares in the company, valued at approximately $30,447,317.37. This trade represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,448 shares of company stock valued at $7,581,132 over the last 90 days. 0.50% of the stock is owned by insiders.

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.