WEC Energy Group, Inc. (NYSE:WEC) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,212,188 shares of the utilities provider’s stock after buying an additional 309,697 shares during the period. Invesco Ltd. owned approximately 1.33% of WEC Energy Group worth $396,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP increased its holdings in WEC Energy Group by 37.6% in the 3rd quarter. Quantinno Capital Management LP now owns 19,473 shares of the utilities provider’s stock valued at $1,873,000 after purchasing an additional 5,322 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in WEC Energy Group in the third quarter valued at $501,000. EP Wealth Advisors LLC increased its stake in WEC Energy Group by 6.0% in the third quarter. EP Wealth Advisors LLC now owns 6,060 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 343 shares during the period. National Bank of Canada FI increased its stake in WEC Energy Group by 31.4% in the third quarter. National Bank of Canada FI now owns 167,956 shares of the utilities provider’s stock valued at $16,154,000 after purchasing an additional 40,115 shares during the period. Finally, XTX Topco Ltd increased its stake in WEC Energy Group by 112.8% in the third quarter. XTX Topco Ltd now owns 5,472 shares of the utilities provider’s stock valued at $526,000 after purchasing an additional 2,901 shares during the period. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WEC shares. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $106.00 to $108.00 in a research report on Tuesday. 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 upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average price target of $102.56.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 274,955 shares of the company’s stock, 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 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 on Monday, February 24th. The shares were 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 represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

WEC Energy Group Trading Up 1.5 %

Shares of WEC stock opened at $104.49 on Thursday. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The stock has a market cap of $33.34 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.60 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm has a fifty day moving average of $104.95 and a 200-day moving average of $99.62.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business 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 firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $1.10 EPS. On average, equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.