State of Alaska Department of Revenue Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

State of Alaska Department of Revenue lessened its holdings in WEC Energy Group, Inc. (NYSE:WECFree Report) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,065 shares of the utilities provider’s stock after selling 3,425 shares during the period. State of Alaska Department of Revenue’s holdings in WEC Energy Group were worth $2,867,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in WEC Energy Group by 5,257.7% during the third quarter. American Century Companies Inc. now owns 1,465,114 shares of the utilities provider’s stock worth $118,015,000 after purchasing an additional 1,437,768 shares during the period. Renaissance Technologies LLC increased its stake in WEC Energy Group by 563.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock worth $131,757,000 after buying an additional 1,121,075 shares during the period. Envestnet Asset Management Inc. increased its stake in WEC Energy Group by 131.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 861,320 shares of the utilities provider’s stock worth $69,379,000 after buying an additional 488,917 shares during the period. Virginia Retirement Systems ET AL acquired a new position in WEC Energy Group during the 2nd quarter worth $42,678,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in WEC Energy Group by 28.4% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,149,048 shares of the utilities provider’s stock worth $189,632,000 after acquiring an additional 474,843 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

WEC stock opened at $81.22 on Thursday. The firm has a 50 day moving average of $79.58 and a two-hundred day moving average of $81.61. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $99.26. The company has a market capitalization of $25.62 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 2.84 and a beta of 0.40.

WEC Energy Group (NYSE:WECGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the company earned $0.80 earnings per share. WEC Energy Group’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on WEC. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $90.00 to $84.00 in a report on Friday, February 2nd. Bank of America reiterated an “underperform” rating and issued a $78.00 target price (down from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Barclays dropped their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Finally, Royal Bank of Canada lowered their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $86.17.

Read Our Latest Analysis on WEC Energy Group

WEC Energy Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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