First Interstate Bank Has $221,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

First Interstate Bank lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 11.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,625 shares of the utilities provider’s stock after selling 354 shares during the quarter. First Interstate Bank’s holdings in WEC Energy Group were worth $221,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Tyche Wealth Partners LLC acquired a new stake in shares of WEC Energy Group during the 4th quarter worth about $431,000. Everence Capital Management Inc. lifted its stake in shares of WEC Energy Group by 101.8% during the 4th quarter. Everence Capital Management Inc. now owns 7,950 shares of the utilities provider’s stock worth $669,000 after buying an additional 4,010 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of WEC Energy Group during the 4th quarter worth about $251,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of WEC Energy Group during the 4th quarter worth about $1,989,000. Finally, Carnegie Capital Asset Management LLC bought a new position in WEC Energy Group during the fourth quarter worth about $205,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Wells Fargo & Company lowered their price target on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. KeyCorp raised their price target on shares of WEC Energy Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Finally, Royal Bank of Canada lowered their price target on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Four investment analysts have 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.31.

Insider Buying and Selling

In related news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock traded down $1.10 during midday trading on Wednesday, hitting $77.79. 1,968,329 shares of the company traded hands, compared to its average volume of 1,519,202. The stock has a market cap of $24.54 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.74 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The firm’s fifty day moving average price is $79.61 and its 200-day moving average price is $81.33. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $98.80.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $0.80 EPS. The firm’s revenue was down 13.3% compared to the same quarter last year. As a group, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

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.