Farringdon Capital Ltd. Makes New $884,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Farringdon Capital Ltd. purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, Holdings Channel reports. The firm purchased 9,400 shares of the utilities provider’s stock, valued at approximately $884,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annex Advisory Services LLC grew its stake in WEC Energy Group by 6.5% in the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock valued at $10,405,000 after acquiring an additional 6,785 shares during the period. Matrix Trust Co acquired a new position in shares of WEC Energy Group in the 4th quarter valued at approximately $1,538,000. Gateway Investment Advisers LLC increased its stake in WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after purchasing an additional 78,580 shares in the last quarter. PFW Advisors LLC acquired a new stake in WEC Energy Group during the 4th quarter worth approximately $1,073,000. Finally, Walkner Condon Financial Advisors LLC bought a new position in WEC Energy Group in the fourth quarter valued at approximately $271,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

WEC opened at $107.41 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business’s 50-day simple moving average is $105.61 and its 200 day simple moving average is $100.02. The firm has a market capitalization of $34.27 billion, a PE ratio of 22.24, a PEG ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00.

WEC Energy Group (NYSE:WEC) last announced 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). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. BMO Capital Markets increased their target price 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. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.38.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were 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 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. Corporate insiders own 0.34% of the company’s stock.

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.