WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 26.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,395,073 shares of the utilities provider’s stock after selling 491,648 shares during the period. Pictet Asset Management Holding SA owned 0.44% of WEC Energy Group worth $131,193,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares during the period. Human Investing LLC purchased a new position in WEC Energy Group during the fourth quarter worth about $52,000. Cullen Frost Bankers Inc. lifted its position in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after buying an additional 345 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in WEC Energy Group in the 4th quarter valued at about $56,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of WEC Energy Group during the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. KeyCorp raised their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Scotiabank lifted their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. BMO Capital Markets upped their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Bank of America upgraded 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 report on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Trading Up 1.2 %

NYSE:WEC opened at $107.50 on Friday. The business’s 50-day moving average is $103.59 and its two-hundred day moving average is $98.89. The firm has a market capitalization of $33.95 billion, a PE ratio of 22.26, a price-to-earnings-growth 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 $110.19. 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 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. Research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Activity

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated 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 sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.