NewEdge Wealth LLC Sells 556 Shares of WEC Energy Group, Inc. (NYSE:WEC)

NewEdge Wealth LLC lowered its stake in WEC Energy Group, Inc. (NYSE:WEC) by 7.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,609 shares of the utilities provider’s stock after selling 556 shares during the period. NewEdge Wealth LLC’s holdings in WEC Energy Group were worth $556,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WEC. Quilter Plc bought a new stake in WEC Energy Group in the 1st quarter valued at $234,348,000. Achmea Investment Management B.V. bought a new stake in shares of WEC Energy Group in the first quarter valued at about $27,000. Tennessee Valley Asset Management Partners acquired a new position in shares of WEC Energy Group in the fourth quarter valued at about $26,000. First Manhattan Co. grew 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 valued at $28,000 after acquiring an additional 153 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in WEC Energy Group during the fourth quarter worth about $28,000. 77.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Gale E. Klappa sold 37,180 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now 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. 0.44% of the stock is owned by corporate insiders.

WEC Energy Group Stock Down 1.4 %

WEC stock opened at $77.79 on Wednesday. The firm has a 50-day moving average price of $79.61 and a 200-day moving average price of $81.33. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $98.80. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $24.54 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 2.74 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The firm’s revenue was down 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WEC. The Goldman Sachs Group began coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target for the company. Wells Fargo & Company dropped their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Barclays reduced their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. KeyCorp boosted their price target on WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Finally, Royal Bank of Canada reduced their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.31.

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.