Synergy Asset Management LLC Sells 859 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Synergy Asset Management LLC reduced its position in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,874 shares of the utilities provider’s stock after selling 859 shares during the period. Synergy Asset Management LLC’s holdings in WEC Energy Group were worth $3,356,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Achmea Investment Management B.V. purchased a new position in shares of WEC Energy Group in the first quarter worth about $27,000. Valued Wealth Advisors LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth about $28,000. First Manhattan Co. increased its stake in shares of WEC Energy Group by 102.0% in the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 153 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of WEC Energy Group in the fourth quarter worth about $33,000. Finally, VitalStone Financial LLC bought a new position in shares of WEC Energy Group in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 1.2 %

Shares of WEC opened at $82.12 on Friday. The firm has a market cap of $25.90 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.86 and a beta of 0.40. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $99.26. The firm has a 50 day moving average price of $79.50 and a 200-day moving average price of $81.72.

WEC Energy Group (NYSE:WECGet Free Report) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.08 by $0.02. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

Insider Transactions at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WEC shares. JPMorgan Chase & Co. lowered shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Mizuho cut their price objective on shares of WEC Energy Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, December 18th. Barclays dropped their target price on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Finally, KeyCorp lifted their target price on shares of WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $86.17.

View Our Latest Stock Analysis on WEC

WEC Energy Group Profile

(Free Report)

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.

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

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