WEC Energy Group, Inc. $WEC Stake Boosted by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lifted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,485 shares of the utilities provider’s stock after acquiring an additional 110 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in WEC Energy Group were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in WEC Energy Group by 34.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after buying an additional 726,267 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in WEC Energy Group by 0.8% in the first quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider’s stock worth $466,451,000 after buying an additional 33,810 shares during the last quarter. Northern Trust Corp raised its position in WEC Energy Group by 4.9% during the first quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider’s stock valued at $436,298,000 after acquiring an additional 188,057 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in WEC Energy Group in the first quarter valued at approximately $403,372,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 35,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director directly owned 274,969 shares in the company, valued at $30,447,317.37. This represents a 11.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president directly owned 6,606 shares of the company’s stock, valued at approximately $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,448 shares of company stock valued at $7,581,132 in the last three months. 0.50% of the stock is owned by insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $117.28 on Thursday. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $117.48. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The stock has a market capitalization of $37.75 billion, a PE ratio of 22.47, a P/E/G ratio of 3.28 and a beta of 0.47. The stock has a 50-day simple moving average of $110.30 and a 200 day simple moving average of $107.86.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion for the quarter. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday. Cowen began coverage on WEC Energy Group in a report on Wednesday. They set a “hold” rating on the stock. UBS Group boosted their price target on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Scotiabank upped their price target on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.60.

About WEC Energy Group

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.