Modern Wealth Management LLC Acquires 2,684 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Modern Wealth Management LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 70.6% during the fourth quarter, HoldingsChannel reports. The firm owned 6,488 shares of the utilities provider’s stock after purchasing an additional 2,684 shares during the quarter. Modern Wealth Management LLC’s holdings in WEC Energy Group were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC increased its holdings in WEC Energy Group by 3,828.6% during the fourth 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. Human Investing LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $52,000. Cullen Frost Bankers Inc. raised its holdings in shares of 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. Flagship Wealth Advisors LLC purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $56,000. Finally, Bank of Jackson Hole Trust bought a new position in WEC Energy Group during the fourth quarter valued at $59,000. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction 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. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Wells Fargo & Company upped their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Barclays upgraded shares of 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 research note on Thursday, January 2nd. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, KeyCorp lifted their price objective 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 analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Trading Up 1.4 %

Shares of WEC stock opened at $105.73 on Thursday. The company has a market capitalization of $33.39 billion, a PE ratio of 21.89, 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 business’s fifty day moving average is $103.27 and its 200 day moving average is $98.75. 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 released 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). 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned $1.10 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

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.