Haverford Trust Co Reduces Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Haverford Trust Co decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,742 shares of the utilities provider’s stock after selling 99 shares during the period. Haverford Trust Co’s holdings in WEC Energy Group were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WEC. Larson Financial Group LLC boosted its holdings in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 268 shares during the period. Human Investing LLC bought a new position in shares of WEC Energy Group during the 4th quarter worth $52,000. Cullen Frost Bankers Inc. increased its stake in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after buying an additional 345 shares during the period. Flagship Wealth Advisors LLC bought a new stake in shares of WEC Energy Group in the fourth quarter valued at about $56,000. Finally, Bank of Jackson Hole Trust purchased a new stake in WEC Energy Group in the fourth quarter worth about $59,000. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, KeyCorp lifted their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Trading Down 1.4 %

Shares of NYSE:WEC opened at $104.32 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The firm has a market capitalization of $32.95 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.60 and a beta of 0.45. The business’s 50-day moving average is $103.06 and its 200 day moving average is $98.70. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19.

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 the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. On average, research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group 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 completion of the sale, the director now owns 274,955 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’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 completion of the sale, the director now owns 21,951 shares in the company, 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. 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.