NFJ Investment Group LLC Sells 2,430 Shares of WEC Energy Group, Inc. (NYSE:WEC)

NFJ Investment Group LLC decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,878 shares of the utilities provider’s stock after selling 2,430 shares during the period. NFJ Investment Group LLC’s holdings in WEC Energy Group were worth $13,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Jump Financial LLC grew its holdings in shares of WEC Energy Group by 142.7% in the fourth quarter. Jump Financial LLC now owns 12,452 shares of the utilities provider’s stock worth $1,171,000 after purchasing an additional 7,322 shares during the last quarter. Ontario Teachers Pension Plan Board grew its holdings in WEC Energy Group by 57.5% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 34,626 shares of the utilities provider’s stock worth $3,256,000 after acquiring an additional 12,645 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of WEC Energy Group in the fourth quarter worth about $31,128,000. Canada Post Corp Registered Pension Plan purchased a new position in WEC Energy Group during the 4th quarter valued at about $350,000. Finally, XTX Topco Ltd raised its position in WEC Energy Group by 373.3% during the 4th quarter. XTX Topco Ltd now owns 25,900 shares of the utilities provider’s stock valued at $2,436,000 after purchasing an additional 20,428 shares during the last quarter. 77.20% of the stock is owned by 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 that occurred on 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 owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares in the company, 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 currently owned by company insiders.

WEC Energy Group Price Performance

Shares of WEC opened at $108.25 on Wednesday. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The firm’s 50-day simple moving average is $105.50 and its two-hundred day simple moving average is $99.97. The stock has a market cap of $34.54 billion, a PE ratio of 22.41, a price-to-earnings-growth 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.

WEC Energy Group (NYSE:WEC) last posted 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). The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. BMO Capital Markets lifted their price target 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. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. raised shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Finally, StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.38.

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.