OV Management LLC Boosts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

OV Management LLC boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,212 shares of the utilities provider’s stock after purchasing an additional 1,612 shares during the quarter. OV Management LLC’s holdings in WEC Energy Group were worth $1,807,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP raised its position in WEC Energy Group by 134.2% during the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares during the period. Raymond James Financial Inc. bought a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $188,879,000. JPMorgan Chase & Co. raised its holdings in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Benjamin Edwards Inc. lifted its position in WEC Energy Group by 897.4% in the third quarter. Benjamin Edwards Inc. now owns 568,629 shares of the utilities provider’s stock worth $54,694,000 after buying an additional 511,618 shares during the last quarter. Finally, Donaldson Capital Management LLC purchased a new position in WEC Energy Group during the fourth quarter worth $36,421,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.5 %

NYSE:WEC opened at $109.14 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $110.19. The company has a 50-day moving average of $103.79 and a 200 day moving average of $99.04. The firm has a market cap of $34.47 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 EPS. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business’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 directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares in the company, valued at $29,865,612.10. This 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.

Analysts Set New Price Targets

Several research firms have recently issued reports on WEC. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. KeyCorp boosted their target price on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $101.88.

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.