WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 32.8% in the fourth quarter, HoldingsChannel reports. The firm owned 291,524 shares of the utilities provider’s stock after selling 142,038 shares during the quarter. Korea Investment CORP’s holdings in WEC Energy Group were worth $27,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Financial Group LLC boosted its holdings in shares of WEC Energy Group by 4.8% during the fourth quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 100 shares during the period. Horizon Investments LLC boosted its stake in WEC Energy Group by 1.9% during the 4th quarter. Horizon Investments LLC now owns 5,881 shares of the utilities provider’s stock valued at $553,000 after purchasing an additional 109 shares during the period. Wealth Alliance boosted its stake in WEC Energy Group by 0.8% during the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock valued at $1,325,000 after purchasing an additional 110 shares during the period. Advisor OS LLC increased its stake in shares of WEC Energy Group by 3.5% in the fourth quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 110 shares during the period. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of WEC Energy Group by 14.8% during the fourth quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider’s stock valued at $86,000 after buying an additional 118 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

WEC Energy Group Stock Performance

Shares of WEC opened at $107.50 on Friday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $110.19. The stock has a market capitalization of $33.95 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.60 and a beta of 0.45. The firm’s 50 day moving average is $103.59 and its 200-day moving average is $98.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.10 EPS. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WEC shares. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. BMO Capital Markets upped 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. Scotiabank raised their target price on shares of 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. Finally, Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.