Blueshift Asset Management LLC Invests $218,000 in WEC Energy Group, Inc. (NYSE:WEC)

Blueshift Asset Management LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,323 shares of the utilities provider’s stock, valued at approximately $218,000.

Several other institutional investors also recently modified their holdings of WEC. Larson Financial Group LLC grew its position 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 buying an additional 268 shares during the period. Human Investing LLC acquired a new position in shares of WEC Energy Group during the 4th quarter worth about $52,000. Cullen Frost Bankers Inc. grew its position 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 buying an additional 345 shares during the period. Flagship Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the 4th quarter worth about $56,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of WEC Energy Group during the 4th quarter worth about $59,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the company’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 sale, the director now owns 21,951 shares in the company, 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 link. Also, Director Gale E. Klappa sold 25,000 shares of the company’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 sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Down 1.0 %

NYSE WEC opened at $106.76 on Friday. The stock has a market capitalization of $33.72 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.60 and a beta of 0.45. The stock’s 50 day moving average price is $102.63 and its two-hundred day moving average price is $98.52. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. 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 announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WEC. BMO Capital Markets boosted their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. KeyCorp boosted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective 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. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Profile

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.