SageView Advisory Group LLC Raises Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

SageView Advisory Group LLC raised its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,524 shares of the utilities provider’s stock after acquiring an additional 134 shares during the period. SageView Advisory Group LLC’s holdings in WEC Energy Group were worth $519,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WEC. Summit Investment Advisors Inc. increased its holdings in WEC Energy Group by 1.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 20,285 shares of the utilities provider’s stock valued at $1,908,000 after buying an additional 284 shares during the last quarter. Advisors Capital Management LLC lifted its position in WEC Energy Group by 2.8% in the fourth quarter. Advisors Capital Management LLC now owns 4,675 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 127 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in WEC Energy Group during the fourth quarter worth about $285,000. Townsquare Capital LLC increased its stake in WEC Energy Group by 10.8% in the 4th quarter. Townsquare Capital LLC now owns 128,855 shares of the utilities provider’s stock valued at $12,117,000 after purchasing an additional 12,538 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in WEC Energy Group by 15.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 31,327 shares of the utilities provider’s stock valued at $2,945,000 after acquiring an additional 4,182 shares in the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

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

Analysts Set New Price Targets

Several analysts have recently issued reports on WEC shares. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company upped 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. BMO Capital Markets lifted their target price on 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. Finally, JPMorgan Chase & Co. raised WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target of $104.38.

WEC Energy Group Stock Performance

NYSE:WEC opened at $108.40 on Tuesday. The firm has a market capitalization of $34.59 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.60 and a beta of 0.44. The company has a fifty day moving average of $105.35 and a 200-day moving average of $99.91. 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 twelve month low of $77.47 and a twelve month high of $111.00.

WEC Energy Group (NYSE:WEC) last announced 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). The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current 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.