26,980 Shares in WEC Energy Group, Inc. (NYSE:WEC) Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,980 shares of the utilities provider’s stock, valued at approximately $2,542,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in 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 valued at $762,453,000 after acquiring an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Wellington Management Group LLP lifted its stake in WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after acquiring an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in WEC Energy Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after acquiring an additional 87,711 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in WEC Energy Group by 2.1% in 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. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction 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. 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.

WEC Energy Group Price Performance

NYSE:WEC opened at $106.89 on Monday. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The firm has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 0.45. The firm’s 50-day simple moving average is $101.25 and its 200 day simple moving average is $98.06. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business posted $1.10 earnings per share. WEC Energy Group’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on WEC shares. KeyCorp increased their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective 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. Finally, Scotiabank increased their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus 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.