LPL Financial LLC Has $66.04 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

LPL Financial LLC lifted its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 702,290 shares of the utilities provider’s stock after acquiring an additional 46,775 shares during the period. LPL Financial LLC owned approximately 0.22% of WEC Energy Group worth $66,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WEC. Geode Capital Management LLC raised its stake in shares of WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after purchasing an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after buying an additional 699,177 shares in the last quarter. Wellington Management Group LLP raised its position in WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after buying an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 87,711 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings 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 acquiring an additional 46,609 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC opened at $105.73 on Thursday. 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 current ratio of 0.60 and a quick ratio of 0.43. The stock’s fifty day moving average price is $103.27 and its two-hundred day moving average price is $98.75. The firm has a market cap of $33.39 billion, a PE ratio of 21.89, a PEG ratio of 2.60 and a beta of 0.45.

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). The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate 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 was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, 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 owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 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 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of 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. Wells Fargo & Company boosted their target price on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.88.

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.