Cibc World Markets Corp Purchases 7,044 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Cibc World Markets Corp raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,904 shares of the utilities provider’s stock after acquiring an additional 7,044 shares during the quarter. Cibc World Markets Corp’s holdings in WEC Energy Group were worth $4,693,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its position in 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 valued at $26,000 after acquiring an additional 268 shares in the last quarter. Human Investing LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $52,000. Cullen Frost Bankers Inc. boosted its position in shares of WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 345 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $59,000. Finally, Kestra Investment Management LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $61,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $107.63 on Thursday. The firm has a market cap of $33.99 billion, a P/E ratio of 22.28, a PEG ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $102.10 and a 200 day moving average of $98.33. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates 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%. WEC Energy Group’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WEC. BMO Capital Markets boosted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.88.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction 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 sale, the director now owns 274,955 shares of the company’s stock, valued at approximately $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.

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.