Summit Investment Advisors Inc. Has $1.91 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Summit Investment Advisors Inc. raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,285 shares of the utilities provider’s stock after buying an additional 284 shares during the quarter. Summit Investment Advisors Inc.’s holdings in WEC Energy Group were worth $1,908,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WEC. Larson Financial Group LLC raised its stake in WEC Energy Group by 3,828.6% during the 4th 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 during the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of WEC Energy Group during the 4th quarter worth about $28,000. Hoey Investments Inc. acquired a new position in shares of WEC Energy Group during the fourth quarter valued at about $42,000. Human Investing LLC bought a new stake in shares of WEC Energy Group in the fourth quarter valued at about $52,000. Finally, Cullen Frost Bankers Inc. grew its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after buying an additional 345 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

NYSE WEC opened at $108.25 on Wednesday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The firm’s 50 day moving average is $105.50 and its 200-day moving average is $99.97. The company has a market capitalization of $34.54 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) 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 analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets upped their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and an average target price of $104.38.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the 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 of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.