Private Harbour Investment Management & Counsel LLC Sells 186 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Private Harbour Investment Management & Counsel LLC cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,380 shares of the utilities provider’s stock after selling 186 shares during the period. WEC Energy Group accounts for about 1.0% of Private Harbour Investment Management & Counsel LLC’s portfolio, making the stock its 29th biggest position. Private Harbour Investment Management & Counsel LLC’s holdings in WEC Energy Group were worth $882,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in WEC Energy Group by 3.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 272,427 shares of the utilities provider’s stock worth $25,619,000 after purchasing an additional 7,884 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in shares of WEC Energy Group by 2.1% in the 4th quarter. Zions Bancorporation N.A. now owns 33,915 shares of the utilities provider’s stock worth $3,189,000 after buying an additional 706 shares during the last quarter. Modern Wealth Management LLC grew its holdings in shares of WEC Energy Group by 70.6% in the fourth quarter. Modern Wealth Management LLC now owns 6,488 shares of the utilities provider’s stock valued at $657,000 after acquiring an additional 2,684 shares in the last quarter. ICW Investment Advisors LLC increased its position in shares of WEC Energy Group by 1.9% during the fourth quarter. ICW Investment Advisors LLC now owns 13,477 shares of the utilities provider’s stock valued at $1,267,000 after acquiring an additional 255 shares during the last quarter. Finally, Congress Wealth Management LLC DE bought a new stake in WEC Energy Group during the fourth quarter worth $938,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Stock Down 1.4 %

Shares of WEC Energy Group stock opened at $104.32 on Wednesday. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.60 and a beta of 0.45. The company’s 50 day moving average price is $103.06 and its 200-day moving average price is $98.70. 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, Inc. has a 52-week low of $77.47 and a 52-week high of $110.19.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $2.50 billion. During the same quarter last year, the firm earned $1.10 EPS. The business’s revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling

In other 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 value of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WEC shares. BMO Capital Markets upped their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, KeyCorp upped their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $101.88.

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.