Everence Capital Management Inc. Grows Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Everence Capital Management Inc. boosted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 101.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,950 shares of the utilities provider’s stock after acquiring an additional 4,010 shares during the quarter. Everence Capital Management Inc.’s holdings in WEC Energy Group were worth $669,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quilter Plc purchased a new position in WEC Energy Group in the 1st quarter worth approximately $234,348,000. Achmea Investment Management B.V. purchased a new position in shares of WEC Energy Group during the 1st quarter valued at approximately $27,000. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $26,000. First Manhattan Co. boosted its stake in shares of WEC Energy Group by 102.0% during the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 2.3 %

Shares of NYSE WEC opened at $79.61 on Thursday. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $98.80. The firm has a market capitalization of $25.11 billion, a PE ratio of 18.86, a PEG ratio of 2.71 and a beta of 0.40. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $79.64 and a two-hundred day moving average price of $81.32.

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

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Royal Bank of Canada decreased their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Barclays decreased their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Finally, Wells Fargo & Company decreased their target price on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.31.

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.