WEC Energy Group Inc (WEC) Shares Bought by NEXT Financial Group Inc

NEXT Financial Group Inc lifted its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 2,281.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,048 shares of the utilities provider’s stock after buying an additional 4,836 shares during the quarter. NEXT Financial Group Inc’s holdings in WEC Energy Group were worth $350,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. We Are One Seven LLC acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $30,000. Gantzert Investment Co. LLC ADV acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $35,000. First Mercantile Trust Co. raised its stake in shares of WEC Energy Group by 68.6% during the 4th quarter. First Mercantile Trust Co. now owns 590 shares of the utilities provider’s stock worth $41,000 after buying an additional 240 shares during the period. Finally, Mondrian Investment Partners LTD acquired a new position in shares of WEC Energy Group during the 4th quarter worth approximately $41,000. 73.65% of the stock is owned by institutional investors and hedge funds.

NYSE WEC opened at $76.03 on Friday. WEC Energy Group Inc has a one year low of $58.48 and a one year high of $76.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.67 and a quick ratio of 0.51. The firm has a market capitalization of $24.18 billion, a P/E ratio of 22.88, a PEG ratio of 4.97 and a beta of 0.15.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.01. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that WEC Energy Group Inc will post 3.51 earnings per share for the current year.

Several research analysts recently commented on the company. ValuEngine raised WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Monday, November 12th. Barclays increased their price objective on WEC Energy Group from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Argus increased their price objective on WEC Energy Group from $75.00 to $81.00 and gave the company a “buy” rating in a research note on Thursday, December 6th. Zacks Investment Research downgraded WEC Energy Group from a “buy” rating to a “hold” rating in a research note on Sunday, January 6th. Finally, Wells Fargo & Co increased their price objective on WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. WEC Energy Group has a consensus rating of “Hold” and a consensus price target of $73.67.

In other WEC Energy Group news, Chairman Gale E. Klappa sold 50,000 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $72.36, for a total value of $3,618,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allen L. Leverett sold 112,250 shares of the company’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $74.35, for a total value of $8,345,787.50. Following the completion of the sale, the director now owns 151,589 shares of the company’s stock, valued at $11,270,642.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 502,993 shares of company stock valued at $37,637,537. 0.94% of the stock is owned by company insiders.

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About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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