Donaldson Capital Management LLC Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

Donaldson Capital Management LLC acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 387,293 shares of the utilities provider’s stock, valued at approximately $36,421,000. WEC Energy Group accounts for about 1.4% of Donaldson Capital Management LLC’s holdings, making the stock its 29th largest position. Donaldson Capital Management LLC owned 0.12% of WEC Energy Group as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of WEC. Mizuho Securities USA LLC boosted its holdings in shares of WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after acquiring an additional 25,975,652 shares during the period. Geode Capital Management LLC lifted its holdings in WEC Energy Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after purchasing an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares during the period. Wellington Management Group LLP boosted its stake in WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after buying an additional 87,711 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 1.9 %

Shares of NYSE:WEC opened at $108.88 on Tuesday. The firm has a market capitalization of $34.39 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The firm has a fifty day moving average of $100.32 and a 200 day moving average of $97.70.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (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 analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Transactions at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group 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 transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the business’s 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 directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This represents a 8.33 % 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WEC shares. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Wells Fargo & Company upped their price target 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. Finally, KeyCorp lifted their price objective 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group 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.