Envestnet Asset Management Inc. Acquires 42,016 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Envestnet Asset Management Inc. boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,089,132 shares of the utilities provider’s stock after acquiring an additional 42,016 shares during the quarter. Envestnet Asset Management Inc. owned 0.66% of WEC Energy Group worth $196,462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Annex Advisory Services LLC grew its holdings in shares of WEC Energy Group by 6.5% in the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the last quarter. Matrix Trust Co purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $1,538,000. Gateway Investment Advisers LLC raised its stake in shares of WEC Energy Group by 20.9% during the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock valued at $42,689,000 after acquiring an additional 78,580 shares in the last quarter. PFW Advisors LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $1,073,000. Finally, Walkner Condon Financial Advisors LLC bought a new position in WEC Energy Group in the fourth quarter worth approximately $271,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s 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 owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Down 3.8 %

NYSE:WEC opened at $104.37 on Monday. The firm has a 50 day moving average of $104.53 and a 200 day moving average of $99.38. 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 52 week low of $77.47 and a 52 week high of $111.00. The stock has a market capitalization of $33.30 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share 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 business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WEC shares. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Scotiabank raised 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 report on Monday, December 9th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.