NEOS Investment Management LLC Acquires 3,728 Shares of WEC Energy Group, Inc. (NYSE:WEC)

NEOS Investment Management LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 29.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,292 shares of the utilities provider’s stock after acquiring an additional 3,728 shares during the quarter. NEOS Investment Management LLC’s holdings in WEC Energy Group were worth $1,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in 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 valued at $26,000 after purchasing an additional 268 shares during the last quarter. Human Investing LLC acquired a new position in shares of WEC Energy Group during the fourth quarter worth $52,000. Cullen Frost Bankers Inc. increased its holdings in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after buying an additional 345 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of WEC Energy Group in the 4th quarter valued at $56,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at about $59,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 1.2 %

Shares of WEC Energy Group stock opened at $107.50 on Friday. The stock has a market capitalization of $33.95 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The stock has a 50 day moving average price of $103.59 and a two-hundred day moving average price of $98.92. 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 announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the firm posted $1.10 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on 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 sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the firm’s 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 owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WEC has been the topic of several analyst reports. Wells Fargo & Company upped their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. 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 research report on Monday, December 9th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, BMO Capital Markets increased their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.