Allstate Corp Invests $904,000 in WEC Energy Group, Inc. (NYSE:WEC)

Allstate Corp acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 9,614 shares of the utilities provider’s stock, valued at approximately $904,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after buying an additional 4,691,017 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in WEC Energy Group during the 4th quarter valued at about $188,879,000. JPMorgan Chase & Co. grew its position in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Benjamin Edwards Inc. increased its stake in WEC Energy Group by 897.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 568,629 shares of the utilities provider’s stock worth $54,694,000 after purchasing an additional 511,618 shares during the period. Finally, Donaldson Capital Management LLC bought a new stake in WEC Energy Group in the fourth quarter valued at approximately $36,421,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 274,955 shares of the company’s stock, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction that occurred 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 directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on WEC shares. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Scotiabank increased their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. KeyCorp boosted their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Trading Up 1.5 %

WEC opened at $109.14 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The stock has a market cap of $34.47 billion, a PE ratio of 22.60, a PEG ratio of 2.60 and a beta of 0.45. The business has a 50 day moving average of $103.79 and a 200-day moving average of $99.04.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data 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 firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. Equities research analysts predict 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.