RWA Wealth Partners LLC Cuts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

RWA Wealth Partners LLC cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,666 shares of the utilities provider’s stock after selling 242 shares during the quarter. RWA Wealth Partners LLC’s holdings in WEC Energy Group were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Captrust Financial Advisors raised its position in WEC Energy Group by 11.5% in the third quarter. Captrust Financial Advisors now owns 24,957 shares of the utilities provider’s stock worth $2,400,000 after acquiring an additional 2,583 shares during the period. Verition Fund Management LLC raised its holdings in shares of WEC Energy Group by 206.2% in the 3rd quarter. Verition Fund Management LLC now owns 29,968 shares of the utilities provider’s stock worth $2,882,000 after purchasing an additional 20,180 shares during the period. Hilltop Holdings Inc. purchased a new position in WEC Energy Group in the third quarter valued at approximately $1,316,000. HighTower Advisors LLC lifted its stake in WEC Energy Group by 13.0% in the third quarter. HighTower Advisors LLC now owns 100,517 shares of the utilities provider’s stock valued at $9,681,000 after purchasing an additional 11,593 shares during the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in WEC Energy Group by 48.1% during the third quarter. Investment Management Corp of Ontario now owns 10,462 shares of the utilities provider’s stock valued at $1,006,000 after purchasing an additional 3,400 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on 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 directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WEC shares. Wells Fargo & Company upped their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. KeyCorp upped 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. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $101.88.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $108.86 on Wednesday. The company has a 50 day moving average of $103.96 and a 200 day moving average of $99.13. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The stock has a market cap of $34.38 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $110.19.

WEC Energy Group (NYSE:WEC) last released 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 firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the firm earned $1.10 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast 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.