WEC Energy Group, Inc. (NYSE:WEC) Stake Raised by Assetmark Inc.

Assetmark Inc. raised its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 172.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,495 shares of the utilities provider’s stock after acquiring an additional 60,497 shares during the quarter. Assetmark Inc.’s holdings in WEC Energy Group were worth $8,980,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WEC. Janney Montgomery Scott LLC grew its position in WEC Energy Group by 14.2% during the third quarter. Janney Montgomery Scott LLC now owns 69,286 shares of the utilities provider’s stock valued at $6,664,000 after purchasing an additional 8,628 shares in the last quarter. QRG Capital Management Inc. grew its holdings in shares of WEC Energy Group by 4.6% during the 3rd quarter. QRG Capital Management Inc. now owns 11,991 shares of the utilities provider’s stock valued at $1,153,000 after acquiring an additional 529 shares in the last quarter. Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of WEC Energy Group in the third quarter worth $293,000. Leavell Investment Management Inc. raised its holdings in shares of WEC Energy Group by 1.0% during the third quarter. Leavell Investment Management Inc. now owns 29,888 shares of the utilities provider’s stock worth $2,875,000 after acquiring an additional 286 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of WEC Energy Group during the third quarter worth $258,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 3.0 %

NYSE:WEC opened at $106.89 on Friday. 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’s 50 day moving average is $100.03 and its 200-day moving average is $97.49. The firm has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $108.87.

WEC Energy Group (NYSE:WEC) last released 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). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In related news, 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 transaction of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % 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 Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, 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. 0.44% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. KeyCorp upped their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.