Sierra Summit Advisors LLC Purchases 1,828 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Sierra Summit Advisors LLC grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 32.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,402 shares of the utilities provider’s stock after buying an additional 1,828 shares during the period. Sierra Summit Advisors LLC’s holdings in WEC Energy Group were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of WEC Energy Group by 3,828.6% in the fourth 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 in the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of WEC Energy Group in the 4th quarter valued at $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group during the 4th quarter valued at about $42,000. Human Investing LLC bought a new position in WEC Energy Group during the fourth quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. grew its stake 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 valued at $55,000 after purchasing an additional 345 shares during the period. Institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction 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 owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on 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. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $104.37 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $104.53 and a 200 day simple moving average of $99.38. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The firm has a market cap of $33.30 billion, a P/E ratio of 21.61, a P/E/G ratio of 2.60 and a beta of 0.44.

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. BMO Capital Markets upped their price objective on shares of 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. Scotiabank lifted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.