Harbour Investments Inc. Buys 7,998 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Harbour Investments Inc. grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 30.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,171 shares of the utilities provider’s stock after acquiring an additional 7,998 shares during the period. Harbour Investments Inc.’s holdings in WEC Energy Group were worth $3,213,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WEC. Wellington Management Group LLP raised its position 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 worth $453,794,000 after acquiring an additional 4,691,017 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of WEC Energy Group in the fourth quarter worth $188,879,000. Charles Schwab Investment Management Inc. increased its stake in shares of WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after purchasing an additional 1,912,223 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 worth $462,276,000 after purchasing an additional 699,177 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after purchasing an additional 695,317 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In other news, 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 value of $2,715,500.00. Following the completion of the sale, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

WEC has been the subject of a number of analyst reports. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. KeyCorp raised their target price 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. Finally, Scotiabank raised their target price on shares of 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. One investment 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, WEC Energy Group presently has an average rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Performance

Shares of 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 stock has a market capitalization of $33.76 billion, a P/E ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45. The firm has a fifty day simple moving average of $101.25 and a two-hundred day simple moving average of $98.06. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal 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.