LPL Financial LLC Raises Position in WEC Energy Group, Inc. (NYSE:WEC)

LPL Financial LLC boosted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 702,290 shares of the utilities provider’s stock after buying an additional 46,775 shares during the period. LPL Financial LLC’s holdings in WEC Energy Group were worth $66,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in shares of WEC Energy Group by 17.3% during the third quarter. Thrivent Financial for Lutherans now owns 26,277 shares of the utilities provider’s stock worth $2,527,000 after purchasing an additional 3,880 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in WEC Energy Group by 11.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 38,499 shares of the utilities provider’s stock worth $3,703,000 after buying an additional 3,980 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of WEC Energy Group by 2.9% in the 3rd quarter. Private Trust Co. NA now owns 5,389 shares of the utilities provider’s stock worth $518,000 after buying an additional 152 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of WEC Energy Group by 2.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 201,182 shares of the utilities provider’s stock valued at $19,350,000 after buying an additional 4,411 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at $118,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Up 1.4 %

Shares of NYSE WEC opened at $105.73 on Thursday. The firm’s fifty day moving average is $103.27 and its 200 day moving average is $98.75. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The company has a market cap of $33.39 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.60 and a beta of 0.45.

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. On average, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on WEC. Barclays raised 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 note on Thursday, January 2nd. KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Finally, BMO Capital Markets boosted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. One analyst has 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 has an average rating of “Hold” and an average price target of $101.88.

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.