Congress Wealth Management LLC DE Purchases Shares of 9,978 WEC Energy Group, Inc. (NYSE:WEC)

Congress Wealth Management LLC DE acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,978 shares of the utilities provider’s stock, valued at approximately $938,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Annex Advisory Services LLC increased its stake in WEC Energy Group by 6.5% in the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the period. Matrix Trust Co purchased a new position in shares of WEC Energy Group in the fourth quarter worth $1,538,000. Motley Fool Wealth Management LLC raised its holdings in WEC Energy Group by 51.0% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock valued at $2,883,000 after buying an additional 10,126 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock valued at $42,689,000 after buying an additional 78,580 shares during the period. Finally, PFW Advisors LLC purchased a new stake in WEC Energy Group during the 4th quarter valued at $1,073,000. Institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction 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. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Scotiabank upped their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Finally, BMO Capital Markets lifted their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Price Performance

Shares of WEC stock opened at $106.27 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The stock has a market cap of $33.56 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.60 and a beta of 0.45. The business’s fifty day moving average is $103.42 and its 200 day moving average is $98.81. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19.

WEC Energy Group (NYSE:WEC) last issued 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 return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s revenue 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 fiscal year.

WEC Energy Group Company 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.