WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Summit Financial LLC

Summit Financial LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 62.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,911 shares of the utilities provider’s stock after acquiring an additional 3,827 shares during the quarter. Summit Financial LLC’s holdings in WEC Energy Group were worth $932,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its position in WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after buying an additional 6,329,574 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of WEC Energy Group by 1.3% during 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 acquiring an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. boosted its position in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 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 position in WEC Energy Group by 2.1% in the fourth 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 during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The shares were 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 approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the 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 sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on WEC. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their target price 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. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, BMO Capital Markets upped their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.88.

WEC Energy Group Price Performance

Shares of WEC stock opened at $108.96 on Thursday. The firm has a fifty day moving average of $104.19 and a two-hundred day moving average of $99.20. The firm has a market cap of $34.41 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $110.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC) last posted its quarterly 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 analyst estimates of $2.50 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal 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.