Advisors Asset Management Inc. Trims Position in WEC Energy Group, Inc. (NYSE:WEC)

Advisors Asset Management Inc. lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 23.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,614 shares of the utilities provider’s stock after selling 12,671 shares during the period. Advisors Asset Management Inc.’s holdings in WEC Energy Group were worth $3,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of WEC. Thrivent Financial for Lutherans raised its holdings in WEC Energy Group by 17.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 26,277 shares of the utilities provider’s stock valued at $2,527,000 after buying an additional 3,880 shares during the period. AMG National Trust Bank purchased a new stake in WEC Energy Group in the 3rd quarter valued at about $204,000. Fifth Third Wealth Advisors LLC raised its holdings in WEC Energy Group by 43.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,489 shares of the utilities provider’s stock valued at $432,000 after buying an additional 1,367 shares during the period. Prospera Private Wealth LLC purchased a new stake in WEC Energy Group in the 3rd quarter valued at about $429,000. Finally, Strategy Asset Managers LLC raised its holdings in WEC Energy Group by 28.4% in the 3rd quarter. Strategy Asset Managers LLC now owns 3,692 shares of the utilities provider’s stock valued at $355,000 after buying an additional 817 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $107.83 on Friday. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19. The company has a market cap of $34.06 billion, a PE ratio of 22.33, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business has a 50-day simple moving average of $102.36 and a 200-day simple moving average of $98.39.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.50 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports 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. KeyCorp boosted their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted 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. Scotiabank boosted their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $101.88.

Insider Transactions at WEC Energy Group

In related news, 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 completion of the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.