Essential Planning LLC. Invests $3.08 Million in WEC Energy Group, Inc. (NYSE:WEC)

Essential Planning LLC. acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,720 shares of the utilities provider’s stock, valued at approximately $3,075,000.

A number of other institutional investors also recently bought and sold shares of WEC. CWA Asset Management Group LLC purchased a new position in shares of WEC Energy Group in the third quarter worth $258,000. Assetmark Inc. increased its position in shares of WEC Energy Group by 26.5% in the 3rd quarter. Assetmark Inc. now owns 34,998 shares of the utilities provider’s stock valued at $3,366,000 after acquiring an additional 7,335 shares during the period. Sigma Planning Corp raised its stake in WEC Energy Group by 29.6% in the 3rd quarter. Sigma Planning Corp now owns 11,516 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 2,627 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in WEC Energy Group by 82.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 4,987 shares of the utilities provider’s stock worth $480,000 after acquiring an additional 2,259 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in WEC Energy Group during the 3rd quarter worth about $45,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $104.72 on Thursday. The stock has a market cap of $33.07 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The business has a 50-day simple moving average of $100.77 and a 200-day simple moving average of $97.84. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. 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 issued its quarterly earnings data 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 net margin of 17.75% and a return on equity of 12.39%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The stock was 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 $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value 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 represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on WEC shares. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. KeyCorp lifted their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Scotiabank lifted their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.