WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 30.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,000 shares of the utilities provider’s stock after selling 10,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in WEC Energy Group were worth $2,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Orion Portfolio Solutions LLC lifted its holdings in shares of WEC Energy Group by 5.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 50,629 shares of the utilities provider’s stock worth $4,761,000 after acquiring an additional 2,492 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at $116,000. Blair William & Co. IL raised its holdings in shares of WEC Energy Group by 0.4% in the 4th quarter. Blair William & Co. IL now owns 44,266 shares of the utilities provider’s stock valued at $4,163,000 after buying an additional 168 shares during the period. AssuredPartners Investment Advisors LLC acquired a new position in WEC Energy Group during the 4th quarter worth about $394,000. Finally, NEOS Investment Management LLC boosted its holdings in WEC Energy Group by 29.7% during the 4th quarter. NEOS Investment Management LLC now owns 16,292 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 3,728 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WEC shares. Scotiabank increased 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 report on Monday, December 9th. Wells Fargo & Company boosted their price objective 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. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, BMO Capital Markets boosted their target price on 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 research 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’s stock. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $106.27 on Friday. 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 business has a 50 day simple moving average of $103.42 and a 200-day simple moving average of $98.81. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $110.19. The stock has a market capitalization of $33.56 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate 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 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’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 transaction of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.