Intact Investment Management Inc. Sells 96,850 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Intact Investment Management Inc. lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 89.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,900 shares of the utilities provider’s stock after selling 96,850 shares during the period. Intact Investment Management Inc.’s holdings in WEC Energy Group were worth $1,025,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WEC. Mizuho Securities USA LLC raised its holdings in WEC Energy Group by 106,685.0% in the 3rd 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 during the last quarter. Wellington Management Group LLP raised its holdings in WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the last quarter. Raymond James Financial Inc. bought a new position in WEC Energy Group during the 4th quarter worth approximately $188,879,000. Charles Schwab Investment Management Inc. raised its holdings in WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after purchasing an additional 1,912,223 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings 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 last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE WEC opened at $106.89 on Friday. The company has a fifty day simple moving average of $101.25 and a 200 day simple moving average of $97.98. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $110.19. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company has a market cap of $33.76 billion, a P/E ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results 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 net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business posted $1.10 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on WEC. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp raised their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, BMO Capital Markets lifted 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 note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.88.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on Monday, February 24th. The shares were 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 $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction 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 transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by 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.