Baillie Gifford & Co. Buys 100,876 Shares of WEC Energy Group Inc (WEC)

Baillie Gifford & Co. grew its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 45.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 323,633 shares of the utilities provider’s stock after purchasing an additional 100,876 shares during the quarter. Baillie Gifford & Co.’s holdings in WEC Energy Group were worth $22,415,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Essex Investment Management Co. LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at about $30,000. We Are One Seven LLC purchased a new stake in shares of WEC Energy Group during the fourth quarter worth about $30,000. ERTS Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the fourth quarter worth about $30,000. Kings Point Capital Management purchased a new stake in shares of WEC Energy Group during the fourth quarter worth about $34,000. Finally, Gantzert Investment Co. LLC ADV purchased a new stake in shares of WEC Energy Group during the fourth quarter worth about $35,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WEC opened at $77.62 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.67 and a debt-to-equity ratio of 1.02. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $78.05. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 5.02 and a beta of 0.15.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $0.71 earnings per share. WEC Energy Group’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that WEC Energy Group Inc will post 3.52 EPS for the current fiscal year.

In other WEC Energy Group news, CFO Scott J. Lauber sold 3,650 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $76.26, for a total value of $278,349.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allen L. Leverett sold 112,250 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $74.35, for a total transaction of $8,345,787.50. Following the completion of the sale, the director now owns 151,589 shares of the company’s stock, valued at $11,270,642.15. The disclosure for this sale can be found here. Insiders sold 456,668 shares of company stock valued at $34,330,208 over the last 90 days. 0.94% of the stock is currently owned by company insiders.

WEC has been the subject of a number of analyst reports. Barclays increased their target price on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Argus increased their target price on shares of WEC Energy Group from $75.00 to $81.00 and gave the stock a “buy” rating in a report on Thursday, December 6th. Zacks Investment Research lowered shares of WEC Energy Group from a “buy” rating to a “hold” rating in a report on Sunday, January 6th. Wells Fargo & Co increased their target price on shares of WEC Energy Group from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th. Finally, Credit Suisse Group increased their target price on shares of WEC Energy Group from $71.00 to $73.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. WEC Energy Group presently has an average rating of “Hold” and an average price target of $74.11.

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About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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