CIBC Private Wealth Group LLC Sells 77,306 Shares of WEC Energy Group, Inc. (NYSE:WEC)

CIBC Private Wealth Group LLC decreased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,113,239 shares of the utilities provider’s stock after selling 77,306 shares during the period. CIBC Private Wealth Group LLC owned about 0.35% of WEC Energy Group worth $105,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. Allstate Corp acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at about $904,000. Level Four Advisory Services LLC raised its holdings in WEC Energy Group by 2.3% in the 4th quarter. Level Four Advisory Services LLC now owns 29,396 shares of the utilities provider’s stock valued at $2,764,000 after buying an additional 653 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in WEC Energy Group by 5.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 50,629 shares of the utilities provider’s stock valued at $4,761,000 after buying an additional 2,492 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $116,000. Finally, Blair William & Co. IL grew its holdings in WEC Energy Group by 0.4% during the 4th quarter. Blair William & Co. IL now owns 44,266 shares of the utilities provider’s stock worth $4,163,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC opened at $107.50 on Monday. The firm has a market cap of $33.95 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The business’s 50 day moving average price is $103.59 and its two-hundred day moving average price is $98.94. 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 (NYSE:WEC) last released its earnings results 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). The company had revenue of $2.28 billion for 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 revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $119,795.50. Following the completion of the sale, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

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