Harbour Investments Inc. Buys 7,998 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Harbour Investments Inc. boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 30.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,171 shares of the utilities provider’s stock after buying an additional 7,998 shares during the quarter. Harbour Investments Inc.’s holdings in WEC Energy Group were worth $3,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of WEC Energy Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock valued at $762,453,000 after purchasing an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after purchasing an additional 699,177 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after purchasing an additional 4,691,017 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of WEC Energy Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after purchasing an additional 87,711 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of WEC Energy Group by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock valued at $212,691,000 after purchasing an additional 46,609 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.7 %

NYSE:WEC opened at $106.89 on Monday. The company has a market cap of $33.76 billion, a PE ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $101.25 and its two-hundred day moving average is $98.06.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share 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 company 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 firm posted $1.10 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling at WEC Energy Group

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 transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WEC shares. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.88.

WEC Energy Group 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.