WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 47.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,705 shares of the utilities provider’s stock after selling 23,137 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in WEC Energy Group were worth $2,417,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coastline Trust Co acquired a new stake in shares of WEC Energy Group in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in WEC Energy Group during the third quarter worth about $45,000. Human Investing LLC acquired a new stake in WEC Energy Group in the fourth quarter valued at about $52,000. Cullen Frost Bankers Inc. boosted its holdings in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 345 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new stake in WEC Energy Group in the 4th quarter valued at approximately $59,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value 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. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

WEC has been the subject of several recent analyst reports. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. 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 assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.88.

WEC Energy Group Stock Performance

Shares of WEC opened at $106.89 on Friday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $108.87. The stock has a market cap of $33.76 billion, a P/E ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45. 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 50-day moving average of $100.03 and a two-hundred day moving average of $97.49.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data 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 company 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%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 earnings per share. As a group, research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

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.