6,329 Shares in WEC Energy Group, Inc. (NYSE:WEC) Bought by AXQ Capital LP

AXQ Capital LP purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,329 shares of the utilities provider’s stock, valued at approximately $595,000.

Several other institutional investors and hedge funds have also bought and sold shares of WEC. Thrivent Financial for Lutherans lifted its holdings in shares of WEC Energy Group by 17.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 26,277 shares of the utilities provider’s stock worth $2,527,000 after acquiring an additional 3,880 shares during the period. First Horizon Advisors Inc. raised its position in WEC Energy Group by 38.3% during the third quarter. First Horizon Advisors Inc. now owns 964 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 267 shares in the last quarter. Moors & Cabot Inc. lifted its stake in WEC Energy Group by 13.3% during the third quarter. Moors & Cabot Inc. now owns 5,331 shares of the utilities provider’s stock worth $513,000 after purchasing an additional 627 shares during the last quarter. Trustmark National Bank Trust Department acquired a new stake in shares of WEC Energy Group in the 3rd quarter valued at $202,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WEC shares. Scotiabank raised their price objective on 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. KeyCorp raised their price target 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. 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 research report on Thursday, January 2nd. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average target price of $101.88.

WEC Energy Group Stock Performance

NYSE:WEC opened at $106.76 on Friday. The firm has a market capitalization of $33.72 billion, a P/E ratio of 22.10, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a fifty day moving average of $102.63 and a 200-day moving average of $98.52. 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 twelve month low of $77.47 and a twelve month high of $110.19.

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 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 firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 25,000 shares of the company’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 sale, the director now owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, 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. 0.34% of the stock is owned by company insiders.

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.