Dorsey & Whitney Trust CO LLC Increases Position in WEC Energy Group, Inc. (NYSE:WEC)

Dorsey & Whitney Trust CO LLC lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 249.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,070 shares of the utilities provider’s stock after buying an additional 7,187 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in WEC Energy Group were worth $947,000 at the end of the most recent reporting period.

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

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’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 transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

WEC Energy Group Stock Up 3.0 %

Shares of NYSE:WEC opened at $106.89 on Monday. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $108.87. The firm has a fifty day moving average of $100.03 and a 200 day moving average of $97.58. The firm has a market capitalization of $33.76 billion, a PE ratio of 22.13, 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 (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned $1.10 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on WEC. Scotiabank upped their price objective on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. KeyCorp boosted their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets boosted their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price 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.