Wellington Management Group LLP Acquires 6,329,574 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Wellington Management Group LLP boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 134.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,047,753 shares of the utilities provider’s stock after acquiring an additional 6,329,574 shares during the quarter. Wellington Management Group LLP’s holdings in WEC Energy Group were worth $1,038,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WEC. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of WEC Energy Group by 1.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,176 shares of the utilities provider’s stock valued at $7,038,000 after purchasing an additional 1,367 shares during the last quarter. Public Sector Pension Investment Board increased its position in WEC Energy Group by 3.2% during the third quarter. Public Sector Pension Investment Board now owns 55,222 shares of the utilities provider’s stock valued at $5,311,000 after acquiring an additional 1,700 shares during the last quarter. Financial Counselors Inc. purchased a new stake in shares of WEC Energy Group in the third quarter valued at $202,000. Captrust Financial Advisors lifted its holdings in shares of WEC Energy Group by 11.5% in the 3rd quarter. Captrust Financial Advisors now owns 24,957 shares of the utilities provider’s stock worth $2,400,000 after acquiring an additional 2,583 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of WEC Energy Group by 206.2% during the 3rd quarter. Verition Fund Management LLC now owns 29,968 shares of the utilities provider’s stock worth $2,882,000 after purchasing an additional 20,180 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 1.5 %

WEC opened at $109.14 on Tuesday. 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 firm has a market cap of $34.47 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $110.19. The stock has a fifty day moving average price of $103.79 and a 200-day moving average price of $99.04.

WEC Energy Group (NYSE:WEC) last announced its earnings results 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was 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. This represents a 8.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank upped their price objective on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their target price on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets upped 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 report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.88.

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.