Wealth Alliance Sells 500 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Wealth Alliance lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,423 shares of the utilities provider’s stock after selling 500 shares during the period. Wealth Alliance’s holdings in WEC Energy Group were worth $793,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SVB Wealth LLC bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $251,000. CTC Alternative Strategies Ltd. bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $1,989,000. Carnegie Capital Asset Management LLC bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $205,000. Louisiana State Employees Retirement System bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $1,608,000. Finally, Vaughan David Investments LLC IL grew its position in shares of WEC Energy Group by 3.4% in the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider’s stock valued at $36,059,000 after buying an additional 14,084 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on WEC. Barclays reduced their price target on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada cut their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Wells Fargo & Company cut their target price on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Finally, The Goldman Sachs Group initiated coverage on WEC Energy Group in a research note on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $86.31.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $77.79 on Wednesday. The company has a market cap of $24.54 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.74 and a beta of 0.40. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $98.80. The business has a 50 day moving average price of $79.61 and a 200-day moving average price of $81.33. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal 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.