AGF Management Ltd. Cuts Position in WEC Energy Group, Inc. (NYSE:WEC)

AGF Management Ltd. lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 69.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,464 shares of the utilities provider’s stock after selling 33,541 shares during the period. AGF Management Ltd.’s holdings in WEC Energy Group were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Marshall Financial Group LLC increased its stake in shares of WEC Energy Group by 4.8% in the 4th quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock valued at $207,000 after purchasing an additional 100 shares in the last quarter. Wealth Alliance increased its stake in shares of WEC Energy Group by 0.8% in the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock valued at $1,325,000 after purchasing an additional 110 shares in the last quarter. Advisor OS LLC increased its stake in shares of WEC Energy Group by 3.5% in the 4th quarter. Advisor OS LLC now owns 3,222 shares of the utilities provider’s stock valued at $303,000 after purchasing an additional 110 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of WEC Energy Group by 14.8% in the 4th quarter. Capital Advisors Ltd. LLC now owns 916 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 118 shares in the last quarter. Finally, Tsfg LLC increased its stake in shares of WEC Energy Group by 4.6% in the 4th quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Wells Fargo & Company increased their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, Scotiabank increased their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Price Performance

WEC stock opened at $106.89 on Friday. The firm has a market capitalization of $33.76 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $110.19. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The business has a 50 day simple moving average of $101.25 and a 200-day simple moving average of $97.98.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business 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 company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 earnings per share. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the company’s 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 transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the company’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 transaction, the director now owns 274,955 shares in the company, valued at $29,865,612.10. This trade 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 owned by insiders.

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.