Viking Fund Management LLC lessened its stake in WEC Energy Group Inc (NYSE:WEC) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,000 shares of the utilities provider’s stock after selling 2,000 shares during the period. Viking Fund Management LLC’s holdings in WEC Energy Group were worth $2,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its holdings in WEC Energy Group by 0.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 22,916 shares of the utilities provider’s stock worth $1,587,000 after purchasing an additional 172 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management lifted its holdings in WEC Energy Group by 3.4% in the fourth quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 6,733 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 219 shares during the period. North Star Investment Management Corp. lifted its holdings in WEC Energy Group by 2.0% in the fourth quarter. North Star Investment Management Corp. now owns 14,601 shares of the utilities provider’s stock worth $1,011,000 after purchasing an additional 290 shares during the period. JGP Wealth Management LLC lifted its holdings in WEC Energy Group by 1.3% in the third quarter. JGP Wealth Management LLC now owns 41,610 shares of the utilities provider’s stock worth $2,775,000 after purchasing an additional 515 shares during the period. Finally, Gofen & Glossberg LLC IL lifted its holdings in WEC Energy Group by 1.4% in the fourth quarter. Gofen & Glossberg LLC IL now owns 42,718 shares of the utilities provider’s stock worth $2,959,000 after purchasing an additional 598 shares during the period. Hedge funds and other institutional investors own 73.10% of the company’s stock.

A number of brokerages have weighed in on WEC. Citigroup set a $66.00 price target on shares of WEC Energy Group and gave the company a “neutral” rating in a report on Wednesday, October 3rd. Zacks Investment Research upgraded WEC Energy Group from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Wednesday, October 17th. ValuEngine upgraded WEC Energy Group from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Wolfe Research downgraded WEC Energy Group from a “market perform” rating to a “sell” rating in a report on Friday, October 26th. Finally, Bank of America downgraded WEC Energy Group from a “buy” rating to a “neutral” rating in a report on Thursday, November 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $71.36.

NYSE:WEC traded up $0.79 during mid-day trading on Wednesday, reaching $71.80. The stock had a trading volume of 128,714 shares, compared to its average volume of 1,232,971. WEC Energy Group Inc has a fifty-two week low of $58.48 and a fifty-two week high of $75.48. The company has a market capitalization of $22.36 billion, a P/E ratio of 22.87, a P/E/G ratio of 4.60 and a beta of 0.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.34 and a current ratio of 0.51.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. WEC Energy Group had a return on equity of 11.18% and a net margin of 16.82%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, sell-side analysts forecast that WEC Energy Group Inc will post 3.33 earnings per share for the current fiscal year.

In other WEC Energy Group news, insider Joseph Kevin Fletcher sold 72,455 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $70.65, for a total transaction of $5,118,945.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gale E. Klappa sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $72.48, for a total value of $724,800.00. The disclosure for this sale can be found here. Insiders sold 319,073 shares of company stock worth $22,864,524 in the last 90 days. 0.94% of the stock is currently owned by corporate insiders.

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WEC Energy Group Profile

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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