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

Korea Investment CORP decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,524 shares of the utilities provider’s stock after selling 142,038 shares during the quarter. Korea Investment CORP owned approximately 0.09% of WEC Energy Group worth $27,415,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in shares of 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 valued at $26,000 after purchasing an additional 268 shares during the last quarter. Human Investing LLC purchased a new stake in WEC Energy Group during the fourth quarter valued at about $52,000. Cullen Frost Bankers Inc. increased its stake in WEC Energy Group by 140.8% during the fourth 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. Flagship Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the 4th quarter worth about $56,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of WEC Energy Group during the 4th quarter worth about $59,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 1.2 %

Shares of WEC opened at $107.50 on Friday. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19. The stock has a 50-day moving average price of $103.59 and a 200 day moving average price of $98.89. 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 company 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.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share 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 return on equity of 12.39% and a net margin of 17.75%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 EPS. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Transactions 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 stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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 disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent 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 report on Wednesday, February 5th. Scotiabank upped 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 research report on Monday, December 9th. KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Finally, StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.