Enhancing Capital LLC Makes New Investment in WEC Energy Group, Inc. (NYSE:WEC)

Enhancing Capital LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,706 shares of the utilities provider’s stock, valued at approximately $1,101,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 268 shares during the last quarter. Coastline Trust Co purchased a new position in shares of WEC Energy Group during the third quarter worth $29,000. Human Investing LLC purchased a new position in shares of WEC Energy Group during the fourth quarter worth $52,000. Cullen Frost Bankers Inc. boosted its position in shares of 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. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the fourth quarter worth $56,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Wells Fargo & Company lifted their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” 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, BMO Capital Markets lifted their target price on 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 investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.88.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 0.3 %

Shares of NYSE WEC opened at $107.12 on Tuesday. The company has a market capitalization of $33.83 billion, a price-to-earnings ratio of 22.18, 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 current ratio of 0.60 and a quick ratio of 0.43. The business has a 50-day moving average of $101.55 and a two-hundred day moving average of $98.16. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19.

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 business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. On average, analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.