WEC Energy Group, Inc. $WEC Shares Sold by Alta Capital Management LLC

Alta Capital Management LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,850 shares of the utilities provider’s stock after selling 1,996 shares during the period. Alta Capital Management LLC’s holdings in WEC Energy Group were worth $3,944,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Truvestments Capital LLC acquired a new position in shares of WEC Energy Group during the first quarter valued at $25,000. Nova Wealth Management Inc. acquired a new position in shares of WEC Energy Group during the first quarter valued at $26,000. Bayforest Capital Ltd acquired a new position in shares of WEC Energy Group during the second quarter valued at $26,000. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group during the first quarter valued at $28,000. Finally, WPG Advisers LLC acquired a new position in shares of WEC Energy Group during the first quarter valued at $35,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the completion of the sale, the director directly owned 20,360 shares in the company, valued at $2,259,960. The trade was a 7.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the sale, the executive vice president owned 5,829 shares of the company’s stock, valued at approximately $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock worth $7,581,132 over the last quarter. Insiders own 0.50% of the company’s stock.

WEC Energy Group Trading Up 0.7%

Shares of WEC opened at $117.28 on Thursday. The business’s 50-day moving average price is $110.30 and its 200 day moving average price is $107.86. The stock has a market capitalization of $37.75 billion, a P/E ratio of 22.47, a P/E/G ratio of 3.28 and a beta of 0.47. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $117.48. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion for the quarter. Analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on WEC. KeyCorp lifted their target price on WEC Energy Group from $110.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup began coverage on WEC Energy Group in a report on Friday, October 3rd. They set a “buy” rating and a $131.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WEC Energy Group in a report on Wednesday, October 8th. Cowen began coverage on WEC Energy Group in a report on Wednesday. They set a “hold” rating on the stock. Finally, Scotiabank lifted their target price on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $113.60.

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.