WEC Energy Group, Inc. (NYSE:WEC) Holdings Raised by ProVise Management Group LLC

ProVise Management Group LLC boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 35.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,853 shares of the utilities provider’s stock after acquiring an additional 1,001 shares during the quarter. ProVise Management Group LLC’s holdings in WEC Energy Group were worth $362,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares during the last quarter. Human Investing LLC acquired 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 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 345 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the 4th quarter worth $56,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of WEC Energy Group during the 4th quarter worth $59,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on WEC. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. BMO Capital Markets increased their price target on shares of 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. Scotiabank raised their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Bank of America upgraded 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 research note on Thursday, December 12th. Finally, Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. One equities 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 data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and an average target price of $101.88.

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated 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 $2,286,635.67. The trade was a 4.98 % 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

NYSE WEC opened at $107.63 on Thursday. 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 $33.99 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.60 and a beta of 0.45. The company’s fifty day moving average is $102.10 and its two-hundred day moving average is $98.33. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19.

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). The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

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.