UniSuper Management Pty Ltd Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

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

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares during the last quarter. Human Investing LLC acquired a new position in WEC Energy Group in the 4th quarter valued at about $52,000. Cullen Frost Bankers Inc. grew 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 valued at $55,000 after buying an additional 345 shares during the period. Flagship Wealth Advisors LLC acquired a new position in WEC Energy Group in the fourth quarter valued at approximately $56,000. Finally, Bank of Jackson Hole Trust purchased a new position in WEC Energy Group in the fourth quarter worth approximately $59,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the 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 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 SEC, which is available at this link. 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 transaction of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $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. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

Shares of WEC opened at $107.50 on Friday. The company has a market cap of $33.95 billion, a P/E ratio of 22.26, a PEG ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $110.19. 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’s 50 day moving average price is $103.59 and its 200 day moving average price is $98.92.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during 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 business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. On average, research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price target for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. BMO Capital Markets upped their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Scotiabank upped their price objective 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. Finally, Wells Fargo & Company lifted their target price 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group has a consensus rating of “Hold” and an average price target of $101.88.

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.