Proficio Capital Partners LLC Makes New $70,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Proficio Capital Partners LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 70,209 shares of the utilities provider’s stock, valued at approximately $70,000.

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in shares of WEC Energy Group by 2.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,264 shares of the utilities provider’s stock worth $2,188,000 after purchasing an additional 623 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of WEC Energy Group by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 42,341 shares of the utilities provider’s stock worth $3,982,000 after buying an additional 362 shares during the last quarter. Advisor OS LLC raised its holdings in 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 buying an additional 110 shares during the last quarter. Vaughan David Investments LLC IL raised its position in WEC Energy Group by 0.9% during the 4th quarter. Vaughan David Investments LLC IL now owns 489,088 shares of the utilities provider’s stock worth $45,994,000 after purchasing an additional 4,249 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of WEC Energy Group by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock worth $212,691,000 after purchasing an additional 46,609 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WEC. 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 report on Thursday, January 2nd. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Scotiabank increased their target price on shares of 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 equities research 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, WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $101.88.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group 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 sale, the director now owns 274,955 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

WEC Energy Group Trading Up 0.2 %

WEC opened at $104.97 on Friday. The business has a 50 day moving average of $100.99 and a 200-day moving average of $97.89. The stock has a market cap of $33.15 billion, a PE ratio of 21.73, a PEG ratio of 2.60 and a beta of 0.45. 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.

WEC Energy Group (NYSE:WEC) last released 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). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

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.