Operose Advisors LLC Lowers Position in WEC Energy Group, Inc. (NYSE:WEC)

Operose Advisors LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 36.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,307 shares of the utilities provider’s stock after selling 765 shares during the quarter. Operose Advisors LLC’s holdings in WEC Energy Group were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WEC. Jump Financial LLC grew its position in WEC Energy Group by 142.7% in the 4th quarter. Jump Financial LLC now owns 12,452 shares of the utilities provider’s stock worth $1,171,000 after purchasing an additional 7,322 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in shares of WEC Energy Group by 57.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 34,626 shares of the utilities provider’s stock valued at $3,256,000 after acquiring an additional 12,645 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $31,128,000. Canada Post Corp Registered Pension Plan bought a new stake in WEC Energy Group during the fourth quarter worth $350,000. Finally, XTX Topco Ltd boosted its position in WEC Energy Group by 373.3% in the fourth quarter. XTX Topco Ltd now owns 25,900 shares of the utilities provider’s stock worth $2,436,000 after purchasing an additional 20,428 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Down 0.2 %

WEC stock opened at $108.25 on Wednesday. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The stock has a market cap of $34.54 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $105.50 and its 200 day moving average is $99.97.

WEC Energy Group (NYSE:WEC) last released its quarterly 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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm 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 business earned $1.10 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on 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 completion of the sale, the director now owns 274,955 shares in the company, 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. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.