Commerzbank Aktiengesellschaft FI Invests $258,000 in WEC Energy Group, Inc. (NYSE:WEC)

Commerzbank Aktiengesellschaft FI purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,729 shares of the utilities provider’s stock, valued at approximately $258,000.

Other large investors have also made changes to their positions in the company. Coastline Trust Co acquired a new position in shares of WEC Energy Group during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in shares of WEC Energy Group during the third quarter worth $45,000. Human Investing LLC acquired a new position in shares of WEC Energy Group during the fourth quarter worth $52,000. Bank of Jackson Hole Trust acquired a new position in shares of WEC Energy Group during the fourth quarter worth $59,000. Finally, Kestra Investment Management LLC acquired a new position in shares of WEC Energy Group during the fourth quarter worth $61,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in 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. KeyCorp boosted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets boosted 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 report on Wednesday, February 5th. Bank of America raised shares of 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 report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $101.88.

Insider Buying and Selling at WEC Energy Group

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 shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

NYSE:WEC opened at $104.58 on Thursday. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $108.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.60 and a beta of 0.45. The firm’s fifty day moving average is $99.61 and its two-hundred day moving average is $97.33.

WEC Energy Group (NYSE:WEC) last posted its quarterly 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 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 analysts’ expectations of $2.50 billion. During the same period in the previous year, the company posted $1.10 earnings per share. WEC Energy Group’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts expect 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.