Alliancebernstein L.P. Sells 58,277 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Alliancebernstein L.P. lowered its stake in WEC Energy Group, Inc. (NYSE:WEC) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,297 shares of the utilities provider’s stock after selling 58,277 shares during the period. Alliancebernstein L.P. owned 0.11% of WEC Energy Group worth $32,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Annex Advisory Services LLC grew its stake in shares of WEC Energy Group by 6.5% during the fourth quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the period. Matrix Trust Co bought a new position in WEC Energy Group during the fourth quarter worth about $1,538,000. Gateway Investment Advisers LLC grew its position in shares of WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after buying an additional 78,580 shares during the period. PFW Advisors LLC bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $1,073,000. Finally, Walkner Condon Financial Advisors LLC acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $271,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

NYSE WEC opened at $104.37 on Monday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The firm’s 50 day moving average is $104.53 and its 200-day moving average is $99.38. The company has a market capitalization of $33.30 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on WEC. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Scotiabank raised their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets boosted their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.88.

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.