Heartland Advisors Inc. Sells 1,104 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Heartland Advisors Inc. cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 118,001 shares of the utilities provider’s stock after selling 1,104 shares during the period. Heartland Advisors Inc.’s holdings in WEC Energy Group were worth $11,097,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares in the last quarter. Human Investing LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth $52,000. Cullen Frost Bankers Inc. boosted its position in shares of WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 345 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new position in WEC Energy Group during the fourth quarter valued at $56,000. Finally, Bank of Jackson Hole Trust bought a new stake in WEC Energy Group in the 4th quarter valued at $59,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $106.27 on Friday. 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 has a market capitalization of $33.56 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $110.19. The firm’s 50-day moving average is $103.42 and its 200 day moving average is $98.81.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS 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 business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Scotiabank increased their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. KeyCorp upped their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One 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.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $101.88.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred 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 owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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.