Elo Mutual Pension Insurance Co Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Elo Mutual Pension Insurance Co acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 32,432 shares of the utilities provider’s stock, valued at approximately $3,050,000.

Several other hedge funds and other institutional investors have also made changes to their positions in WEC. Wellington Management Group LLP boosted its stake in WEC Energy Group by 17,270.5% in 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 acquiring an additional 4,691,017 shares in the last quarter. Raymond James Financial Inc. purchased a new position in WEC Energy Group during the 4th quarter worth approximately $188,879,000. JPMorgan Chase & Co. increased its position in 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 worth $462,276,000 after buying an additional 699,177 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after buying an additional 695,317 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in shares of WEC Energy Group by 897.4% in the third quarter. Benjamin Edwards Inc. now owns 568,629 shares of the utilities provider’s stock valued at $54,694,000 after acquiring an additional 511,618 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the company’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 transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value 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 approximately $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $107.50 on Friday. The business has a 50-day moving average of $103.59 and a two-hundred day moving average of $98.89. The firm has a market capitalization of $33.95 billion, a PE ratio of 22.26, a P/E/G ratio of 2.60 and a beta of 0.45. 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, Inc. has a 12 month low of $77.47 and a 12 month high of $110.19.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (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 business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Bank of America upgraded shares of 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 report on Thursday, December 12th. BMO Capital Markets raised their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, Scotiabank boosted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $101.88.

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.