WEC Energy Group, Inc. (NYSE:WEC) Director Sells $2,715,500.00 in Stock

WEC Energy Group, Inc. (NYSE:WEC) Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link.

WEC Energy Group Stock Up 3.0 %

Shares of WEC Energy Group stock opened at $106.89 on Friday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $108.87. The firm has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45. The company has a 50-day moving average of $100.03 and a 200 day moving average of $97.49. 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 (NYSE:WEC) last announced its earnings results 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 net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.10 EPS. WEC Energy Group’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WEC Energy Group

Several hedge funds have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC boosted its stake in WEC Energy Group by 106,685.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Wellington Management Group LLP raised its holdings in WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock worth $1,038,931,000 after buying an additional 6,329,574 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of WEC Energy Group in the fourth quarter worth approximately $188,879,000. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after buying an additional 1,912,223 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of WEC Energy Group by 3,815.2% during the fourth quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider’s stock valued at $138,342,000 after acquiring an additional 1,433,522 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WEC has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. KeyCorp boosted their target price on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Scotiabank raised their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.