Premier Fund Managers Ltd Sells 10,000 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Premier Fund Managers Ltd trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 30.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,000 shares of the utilities provider’s stock after selling 10,000 shares during the period. Premier Fund Managers Ltd’s holdings in WEC Energy Group were worth $2,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of WEC. 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 valued at $26,000 after buying an additional 268 shares during the last quarter. Human Investing LLC bought a new position in shares of WEC Energy Group during the fourth quarter worth $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 worth $55,000 after purchasing an additional 345 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $56,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of WEC Energy Group in the 4th quarter worth $59,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

Shares of WEC opened at $106.27 on Friday. The company has a market capitalization of $33.56 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.60 and a beta of 0.45. The business’s 50-day moving average is $103.42 and its two-hundred day moving average is $98.81. 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, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $110.19.

WEC Energy Group (NYSE:WEC) last announced 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 company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEC. Wells Fargo & Company boosted their target price 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. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. BMO Capital Markets increased their price target 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. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target of $101.88.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated 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 owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 21,951 shares of the company’s stock, 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.

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.