Azimuth Capital Investment Management LLC Acquires 145,148 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Azimuth Capital Investment Management LLC increased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 179.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 226,067 shares of the utilities provider's stock after buying an additional 145,148 shares during the period. Azimuth Capital Investment Management LLC owned 0.07% of WEC Energy Group worth $21,259,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Larson Financial Group LLC lifted its holdings in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after buying an additional 268 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth approximately $28,000. Hoey Investments Inc. bought a new position in WEC Energy Group in the 4th quarter valued at $42,000. Human Investing LLC purchased a new position in shares of WEC Energy Group during the 4th quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of WEC Energy Group by 140.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after purchasing an additional 345 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 1.1 %

Shares of WEC Energy Group stock traded up $1.20 during trading on Monday, reaching $108.16. The company's stock had a trading volume of 352,513 shares, compared to its average volume of 2,139,547. 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, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The firm's 50-day moving average is $105.20 and its two-hundred day moving average is $99.82. The company has a market cap of $34.51 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted 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). The business had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 earnings per share. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on WEC. Wells Fargo & Company boosted their target price on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. StockNews.com lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Finally, Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $104.38.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the company'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 sale, the director now owns 274,955 shares of the company's stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

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.