Perigon Wealth Management LLC Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

Perigon Wealth Management LLC bought a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,390 shares of the utilities provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dearborn Partners LLC grew its position in shares of WEC Energy Group by 29.2% during the fourth quarter. Dearborn Partners LLC now owns 582,421 shares of the utilities provider’s stock worth $49,022,000 after buying an additional 131,797 shares in the last quarter. Annex Advisory Services LLC grew its holdings in WEC Energy Group by 13.8% during the 3rd quarter. Annex Advisory Services LLC now owns 205,489 shares of the utilities provider’s stock worth $16,552,000 after acquiring an additional 24,892 shares in the last quarter. Great Lakes Advisors LLC increased its position in shares of WEC Energy Group by 2.3% in the 3rd quarter. Great Lakes Advisors LLC now owns 44,471 shares of the utilities provider’s stock valued at $3,582,000 after purchasing an additional 1,010 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at $1,855,000. Finally, Nordea Investment Management AB lifted its position in shares of WEC Energy Group by 9.6% during the 3rd quarter. Nordea Investment Management AB now owns 14,679 shares of the utilities provider’s stock worth $1,184,000 after purchasing an additional 1,287 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

WEC Energy Group Stock Performance

Shares of WEC opened at $79.61 on Thursday. The company’s 50 day simple moving average is $79.64 and its 200-day simple moving average is $81.32. The firm has a market cap of $25.11 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.71 and a beta of 0.40. 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.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business earned $0.80 EPS. WEC Energy Group’s quarterly revenue was down 13.3% compared to the same quarter last year. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WEC. Barclays dropped 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. Royal Bank of Canada cut their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. cut shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $90.00 to $84.00 in a report on Friday, February 2nd. Finally, KeyCorp boosted their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.31.

WEC Energy Group Company 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.