Federated Hermes Inc. Has $185.50 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Federated Hermes Inc. increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 24.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,972,553 shares of the utilities provider’s stock after purchasing an additional 387,178 shares during the quarter. Federated Hermes Inc. owned approximately 0.62% of WEC Energy Group worth $185,499,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Annex Advisory Services LLC boosted its stake in shares of WEC Energy Group by 6.5% during the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after buying an additional 6,785 shares during the last quarter. Matrix Trust Co acquired a new position in WEC Energy Group during the fourth quarter valued at approximately $1,538,000. Gateway Investment Advisers LLC grew its stake in WEC Energy Group by 20.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock valued at $42,689,000 after purchasing an additional 78,580 shares in the last quarter. PFW Advisors LLC acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $1,073,000. Finally, Walkner Condon Financial Advisors LLC bought a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $271,000. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The stock was 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 approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the business’s 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 owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WEC shares. 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 note on Wednesday, February 5th. StockNews.com downgraded 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 upped their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, 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 report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $101.88.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock opened at $104.37 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company has a market cap of $33.30 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The company has a 50 day moving average of $104.53 and a 200-day moving average of $99.35. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00.

WEC Energy Group (NYSE:WEC) last issued its 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 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 period in the prior year, the business posted $1.10 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast 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.