Canada Post Corp Registered Pension Plan Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Canada Post Corp Registered Pension Plan bought a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,722 shares of the utilities provider’s stock, valued at approximately $350,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WEC. XTX Topco Ltd increased its position in shares of WEC Energy Group by 373.3% during the 4th quarter. XTX Topco Ltd now owns 25,900 shares of the utilities provider’s stock valued at $2,436,000 after purchasing an additional 20,428 shares during the last quarter. Belpointe Asset Management LLC grew its position in WEC Energy Group by 17.8% during the fourth quarter. Belpointe Asset Management LLC now owns 37,028 shares of the utilities provider’s stock valued at $3,445,000 after buying an additional 5,603 shares during the period. CreativeOne Wealth LLC purchased a new stake in WEC Energy Group during the fourth quarter worth about $315,000. Mariner LLC raised its position in WEC Energy Group by 4.6% in the fourth quarter. Mariner LLC now owns 147,524 shares of the utilities provider’s stock worth $13,873,000 after acquiring an additional 6,547 shares during the period. Finally, Barclays PLC raised its position in WEC Energy Group by 40.9% in the fourth quarter. Barclays PLC now owns 802,556 shares of the utilities provider’s stock worth $75,473,000 after acquiring an additional 232,894 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction on Tuesday, March 4th. The stock was 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 trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was 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 in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WEC shares. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. BMO Capital Markets boosted their target price 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. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $104.38.

WEC Energy Group Stock Down 0.2 %

Shares of NYSE WEC opened at $108.25 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a market cap of $34.54 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. The business has a 50-day simple moving average of $105.50 and a two-hundred day simple moving average of $99.97.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Company Profile

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.