Intact Investment Management Inc. Has $1.03 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Intact Investment Management Inc. reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 89.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,900 shares of the utilities provider’s stock after selling 96,850 shares during the period. Intact Investment Management Inc.’s holdings in WEC Energy Group were worth $1,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC increased its holdings 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 during the last quarter. Coastline Trust Co acquired a new position in shares of WEC Energy Group in the third quarter valued at $29,000. Human Investing LLC acquired a new position in shares of WEC Energy Group in the fourth quarter valued at $52,000. Cullen Frost Bankers Inc. increased its holdings in shares of WEC Energy Group by 140.8% in the fourth 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 last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of WEC Energy Group in the fourth quarter valued at about $59,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WEC has been the subject of a number of recent research reports. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America raised shares of 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 report on Thursday, December 12th. BMO Capital Markets boosted their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, WEC Energy Group presently has an average rating of “Hold” and an average price target of $101.88.

Insider Activity

In other news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now 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 disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Trading Up 1.7 %

Shares of WEC Energy Group stock opened at $106.89 on Friday. The company has a market capitalization of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45. 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, Inc. has a 12-month low of $77.47 and a 12-month high of $110.19. The firm’s 50-day moving average price is $101.25 and its two-hundred day moving average price is $97.98.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.