Hoey Investments Inc. Takes $42,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Hoey Investments Inc. purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 450 shares of the utilities provider’s stock, valued at approximately $42,000.

Several other large investors also recently bought and sold shares of WEC. Larson Financial Group LLC increased its holdings in shares of WEC Energy Group by 3,828.6% in 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 last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of WEC Energy Group in the 4th quarter worth about $28,000. Human Investing LLC purchased a new position in shares of WEC Energy Group during the 4th quarter worth about $52,000. Cullen Frost Bankers Inc. raised its position in WEC Energy Group by 140.8% in 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 period. Finally, Flagship Wealth Advisors LLC purchased a new stake in WEC Energy Group in the 4th quarter worth about $56,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 1.5 %

NYSE:WEC opened at $109.14 on Tuesday. The firm has a 50-day simple moving average of $103.79 and a 200-day simple moving average of $99.04. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19. The firm has a market cap of $34.47 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.60 and a beta of 0.45. 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 (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction on 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 transaction, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents 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.

Wall Street Analyst Weigh In

WEC has been the subject of a number of research analyst reports. Scotiabank raised their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted 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. Barclays raised shares of 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, KeyCorp lifted their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $101.88.

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.