Independent Advisor Alliance Has $2.04 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Independent Advisor Alliance boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,724 shares of the utilities provider’s stock after acquiring an additional 387 shares during the period. Independent Advisor Alliance’s holdings in WEC Energy Group were worth $2,043,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WEC. Axxcess Wealth Management LLC grew its position in shares of WEC Energy Group by 82.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 4,987 shares of the utilities provider’s stock worth $480,000 after buying an additional 2,259 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of WEC Energy Group during the third quarter worth about $45,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of WEC Energy Group by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 821,719 shares of the utilities provider’s stock valued at $79,033,000 after purchasing an additional 7,274 shares in the last quarter. First Heartland Consultants Inc. lifted its holdings in shares of WEC Energy Group by 12.7% during the 3rd quarter. First Heartland Consultants Inc. now owns 3,143 shares of the utilities provider’s stock valued at $302,000 after purchasing an additional 354 shares in the last quarter. Finally, Aptus Capital Advisors LLC grew its position in shares of WEC Energy Group by 30.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 5,336 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 1,260 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at $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. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Stock Performance

WEC opened at $104.97 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business’s 50-day simple moving average is $100.99 and its 200 day simple moving average is $97.89. The firm has a market capitalization of $33.15 billion, a PE ratio of 21.73, a PEG 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.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data 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). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WEC has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. KeyCorp upped their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Finally, Scotiabank lifted their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.