26,980 Shares in WEC Energy Group, Inc. (NYSE:WEC) Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 26,980 shares of the utilities provider’s stock, valued at approximately $2,542,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC raised its holdings in WEC Energy Group by 6.5% during the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the last quarter. Matrix Trust Co bought a new position in WEC Energy Group during the 4th quarter worth approximately $1,538,000. DRW Securities LLC bought a new stake in shares of WEC Energy Group in the 3rd quarter valued at $1,392,000. Motley Fool Wealth Management LLC increased its stake in shares of WEC Energy Group by 51.0% in the 3rd quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock valued at $2,883,000 after acquiring an additional 10,126 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in shares of WEC Energy Group by 20.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock valued at $42,689,000 after acquiring an additional 78,580 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $106.89 on Monday. The firm has a market capitalization of $33.76 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The firm has a fifty day simple moving average of $101.25 and a two-hundred day simple moving average of $98.06. The company has a current ratio of 0.60, a quick ratio of 0.43 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 $110.19.

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 analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for 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 revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. Analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank lifted their price objective on shares of 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. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. KeyCorp lifted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $101.88.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.