Mitchell & Pahl Private Wealth LLC Raises Stake in WEC Energy Group, Inc. (NYSE:WEC)

Mitchell & Pahl Private Wealth LLC grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,758 shares of the utilities provider’s stock after acquiring an additional 900 shares during the quarter. WEC Energy Group accounts for approximately 1.2% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 24th biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in WEC Energy Group were worth $2,477,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in WEC Energy Group in the 1st quarter worth $25,000. Global X Japan Co. Ltd. increased its holdings in shares of WEC Energy Group by 58.1% in the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at about $29,000. William B. Walkup & Associates Inc. purchased a new stake in WEC Energy Group during the 2nd quarter valued at about $31,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in WEC Energy Group by 52.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 142 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the sale, the director now directly owns 21,876 shares of the company’s stock, valued at approximately $1,934,932.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.44% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WEC shares. KeyCorp boosted their price objective on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Bank of America upped their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Scotiabank boosted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets boosted their target price on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus target price of $94.00.

WEC Energy Group Stock Up 0.2 %

Shares of WEC Energy Group stock traded up $0.22 during trading on Thursday, hitting $98.97. The company’s stock had a trading volume of 584,732 shares, compared to its average volume of 2,147,542. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $99.10. The company has a market capitalization of $31.28 billion, a PE ratio of 22.80, a P/E/G ratio of 2.48 and a beta of 0.44. The company has a fifty day simple moving average of $93.73 and a two-hundred day simple moving average of $85.79. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

About WEC Energy Group

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.