Avantax Planning Partners Inc. Has $599,000 Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Avantax Planning Partners Inc. cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 30.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,365 shares of the utilities provider’s stock after selling 2,816 shares during the quarter. Avantax Planning Partners Inc.’s holdings in WEC Energy Group were worth $599,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Mizuho Securities USA LLC boosted its stake in WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after buying an additional 25,975,652 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of WEC Energy Group by 1.3% during the third 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. boosted its stake in shares of WEC Energy Group by 17.0% during the third 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 boosted its stake in shares of WEC Energy Group by 17,270.5% during the third 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of WEC Energy Group by 2.3% during the fourth 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. 77.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on WEC shares. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. KeyCorp lifted their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank raised their price objective on 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. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $101.88.

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value 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. 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.

WEC Energy Group Trading Down 3.0 %

Shares of WEC stock opened at $105.74 on Wednesday. The company has a market cap of $33.39 billion, a P/E ratio of 21.89, a PEG ratio of 2.60 and a beta of 0.45. The stock has a 50 day simple moving average of $100.55 and a two-hundred day simple moving average of $97.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $110.19.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

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.