Sequoia Financial Advisors LLC Sells 46,159 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Sequoia Financial Advisors LLC cut its position in WEC Energy Group, Inc. (NYSE:WEC) by 86.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,041 shares of the utilities provider’s stock after selling 46,159 shares during the period. Sequoia Financial Advisors LLC’s holdings in WEC Energy Group were worth $662,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WEC. Larson Financial Group LLC raised 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 acquiring an additional 268 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at $29,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group in the 4th quarter worth $52,000. Cullen Frost Bankers Inc. grew its stake in WEC Energy Group by 140.8% during the 4th 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 last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in WEC Energy Group during the 4th quarter valued at about $59,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WEC has been the topic of a number of research analyst reports. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. KeyCorp increased their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Stock Performance

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

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 analysts’ consensus estimates of $1.49 by ($0.06). The company had revenue of $2.28 billion during 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 company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.