Parallel Advisors LLC Acquires 479 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Parallel Advisors LLC boosted its position in WEC Energy Group, Inc. (NYSE:WEC) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,210 shares of the utilities provider’s stock after purchasing an additional 479 shares during the period. Parallel Advisors LLC’s holdings in WEC Energy Group were worth $490,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Annex Advisory Services LLC grew its position in WEC Energy Group by 6.5% in the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares in the last quarter. Matrix Trust Co purchased a new position in WEC Energy Group in the fourth quarter valued at about $1,538,000. DRW Securities LLC purchased a new position in WEC Energy Group in the third quarter valued at about $1,392,000. Motley Fool Wealth Management LLC boosted its stake in WEC Energy Group by 51.0% in the third quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock valued at $2,883,000 after acquiring an additional 10,126 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in WEC Energy Group by 20.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock valued at $42,689,000 after acquiring an additional 78,580 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on WEC shares. KeyCorp boosted their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. BMO Capital Markets upped their price target on shares of 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. Finally, StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One research analyst has 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 company currently has an average rating of “Hold” and a consensus target price of $101.88.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $107.83 on Friday. The firm’s 50 day simple moving average is $102.36 and its 200 day simple moving average is $98.39. 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 firm has a market capitalization of $34.06 billion, a PE ratio of 22.33, 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.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. As a group, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.