Polymer Capital Management US LLC Buys Shares of 5,429 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 filing with the SEC. The firm purchased 5,429 shares of the utilities provider’s stock, valued at approximately $511,000.

Several other large investors have also recently made changes to their positions in WEC. Wellington Management Group LLP grew its stake in WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares during the last quarter. Geode Capital Management LLC grew its position in shares of WEC Energy Group by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider’s stock worth $756,423,000 after buying an additional 110,802 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock worth $363,350,000 after acquiring an additional 87,711 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in WEC Energy Group by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock valued at $212,691,000 after acquiring an additional 46,609 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WEC shares. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Scotiabank increased their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised their price target on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One equities 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. Based on data from MarketBeat, WEC Energy Group has a consensus rating of “Hold” and an average target price of $101.88.

Insider Activity at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on 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 transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was 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 $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

WEC Energy Group Stock Performance

WEC opened at $104.37 on Monday. The firm has a 50 day moving average of $104.53 and a two-hundred day moving average of $99.38. The firm has a market capitalization of $33.30 billion, a PE ratio of 21.61, a P/E/G ratio of 2.60 and a beta of 0.44. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00.

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 analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. 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. On average, analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Company 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.