Mutual of America Capital Management LLC Trims Stake in WEC Energy Group, Inc. (NYSE:WEC)

Mutual of America Capital Management LLC reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,891 shares of the utilities provider’s stock after selling 1,027 shares during the period. Mutual of America Capital Management LLC’s holdings in WEC Energy Group were worth $3,563,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WEC. Mizuho Securities USA LLC lifted its holdings in shares of WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after acquiring an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after acquiring an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after acquiring an additional 695,317 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the 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 completion of the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

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

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $104.58 on Thursday. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a 50-day moving average price of $99.61 and a 200-day moving average price of $97.33. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $108.87.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

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.