Geode Capital Management LLC Buys 110,802 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Geode Capital Management LLC increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,063,653 shares of the utilities provider’s stock after purchasing an additional 110,802 shares during the period. Geode Capital Management LLC owned approximately 2.55% of WEC Energy Group worth $756,423,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings in WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of WEC Energy Group in the fourth quarter worth $28,000. Hoey Investments Inc. bought a new position in shares of WEC Energy Group during the fourth quarter valued at $42,000. Human Investing LLC purchased a new stake in shares of WEC Energy Group during the fourth quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. increased its holdings in WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock worth $55,000 after buying an additional 345 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 0.1 %

Shares of NYSE:WEC opened at $108.96 on Thursday. The stock has a 50 day moving average of $104.19 and a 200 day moving average of $99.20. 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 $34.41 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $110.19.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS 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 firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insiders Place Their Bets

In related 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 transaction of $119,795.50. Following the sale, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the firm’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 completion of the sale, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % 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 insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEC. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp lifted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays raised 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, BMO Capital Markets boosted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average target price of $101.88.

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.