Enhancing Capital LLC Purchases New Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Enhancing Capital LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,706 shares of the utilities provider’s stock, valued at approximately $1,101,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in WEC Energy Group by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock valued at $762,453,000 after acquiring an additional 105,580 shares during the period. JPMorgan Chase & Co. increased its position in 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 purchasing an additional 699,177 shares during the period. Wellington Management Group LLP increased its position in WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. increased its position in 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 purchasing an additional 87,711 shares during the period. Finally, Bank of New York Mellon Corp increased its position in WEC Energy Group by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock worth $212,691,000 after purchasing an additional 46,609 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

WEC stock opened at $107.12 on Tuesday. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19. 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 stock’s 50 day moving average price is $101.55 and its 200 day moving average price is $98.16. The firm has a market cap of $33.83 billion, a P/E ratio of 22.18, a PEG ratio of 2.60 and a beta of 0.45.

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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company posted $1.10 EPS. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WEC has been the topic of several recent analyst reports. Scotiabank boosted their target price on 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. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Bank of America upgraded 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. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, BMO Capital Markets boosted their price target 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. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.88.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction 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. 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 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.