Polymer Capital Management US LLC Invests $511,000 in WEC Energy Group, Inc. (NYSE:WEC)

Polymer Capital Management US LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,429 shares of the utilities provider’s stock, valued at approximately $511,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake 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. Prudent Man Investment Management Inc. purchased a new position in WEC Energy Group during the fourth quarter worth approximately $28,000. Hoey Investments Inc. acquired a new position in WEC Energy Group during the fourth quarter worth $42,000. Human Investing LLC purchased a new stake in WEC Energy Group in the 4th quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of WEC Energy Group by 140.8% in the 4th 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. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WEC. BMO Capital Markets upped their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price target for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Scotiabank raised their price target on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Stock Down 3.8 %

NYSE:WEC opened at $104.37 on Monday. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. The stock’s fifty day moving average is $104.53 and its two-hundred day moving average is $99.38. The stock has a market capitalization of $33.30 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (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 analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 EPS. Research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity 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 shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents 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 the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.