WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd grew its stake in WEC Energy Group, Inc. (NYSE:WEC) by 23.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,027 shares of the utilities provider’s stock after buying an additional 5,959 shares during the period. UniSuper Management Pty Ltd’s holdings in WEC Energy Group were worth $2,918,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WEC. Geode Capital Management LLC boosted its stake in WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock valued at $762,453,000 after acquiring an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after purchasing an additional 699,177 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after purchasing an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. grew its stake in WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock worth $363,350,000 after buying an additional 87,711 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in WEC Energy Group by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock worth $212,691,000 after buying an additional 46,609 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 1.2 %

Shares of WEC Energy Group stock opened at $107.50 on Friday. 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 firm has a market cap of $33.95 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19. The company’s 50-day simple moving average is $103.59 and its 200-day simple moving average is $98.92.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s quarterly 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. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the company’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 value of $2,715,500.00. Following the sale, the director now owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group 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 transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WEC shares. KeyCorp increased 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. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Scotiabank upped their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group presently has an average rating of “Hold” and an average price target of $101.88.

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.