Horizon Investments LLC Increases Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Horizon Investments LLC increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,881 shares of the utilities provider’s stock after buying an additional 109 shares during the period. Horizon Investments LLC’s holdings in WEC Energy Group were worth $553,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WEC. Larson Financial Group LLC boosted its holdings in WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares in the last quarter. Human Investing LLC purchased a new stake in WEC Energy Group during the fourth quarter worth $52,000. Cullen Frost Bankers Inc. boosted its holdings in WEC Energy Group by 140.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after buying an additional 345 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new position in WEC Energy Group during the fourth quarter valued at $56,000. Finally, Bank of Jackson Hole Trust purchased a new position in WEC Energy Group during the fourth quarter valued at $59,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was 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 company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WEC. KeyCorp increased their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. 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 report on Monday, December 9th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. 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 stock. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $107.83 on Friday. The firm has a 50-day simple moving average of $102.36 and a 200-day simple moving average of $98.39. The stock has a market capitalization of $34.06 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. 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, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19.

WEC Energy Group (NYSE:WEC) last issued its 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 net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the company earned $1.10 earnings per share. WEC Energy Group’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict 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.