WEC Energy Group, Inc. (NYSE:WEC) Stake Cut by Glenview Trust co

Glenview Trust co cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 4.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,978 shares of the utilities provider’s stock after selling 142 shares during the period. Glenview Trust co’s holdings in WEC Energy Group were worth $280,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC increased its position in 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 buying an additional 6,785 shares during the period. Matrix Trust Co acquired a new stake in WEC Energy Group in the fourth quarter worth $1,538,000. DRW Securities LLC acquired a new stake in WEC Energy Group in the third quarter worth $1,392,000. Motley Fool Wealth Management LLC increased its position in WEC Energy Group by 51.0% in the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock worth $2,883,000 after buying an additional 10,126 shares during the period. Finally, Gateway Investment Advisers LLC increased its position in WEC Energy Group by 20.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after buying an additional 78,580 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 25,000 shares of the business’s 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 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 disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Stock Up 0.3 %

Shares of WEC Energy Group stock opened at $107.12 on Tuesday. The firm has a market cap of $33.83 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The stock has a 50-day simple moving average of $101.55 and a 200-day simple moving average of $98.16.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. On average, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

WEC has been the topic of several analyst reports. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Scotiabank raised their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average target price of $101.88.

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.