Envestnet Portfolio Solutions Inc. Sells 3,011 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Envestnet Portfolio Solutions Inc. reduced its stake in WEC Energy Group by 6.0%, selling 3,011 shares to hold a total of 46,781 shares worth $4.875 million.
• Several other institutional investors, including Sequoia Financial Advisors and CWM LLC, increased their positions in WEC Energy Group during the second quarter, highlighting institutional interest in the company.
• WEC Energy Group's stock has received mixed ratings from analysts, with a consensus rating of "Hold" and a price target of $113.60, alongside individual ratings from brokerages varying from "buy" to "sell."

Envestnet Portfolio Solutions Inc. trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,781 shares of the utilities provider's stock after selling 3,011 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in WEC Energy Group were worth $4,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in shares of WEC Energy Group by 12.4% during the second quarter. Sequoia Financial Advisors LLC now owns 7,224 shares of the utilities provider's stock worth $753,000 after purchasing an additional 799 shares in the last quarter. CWM LLC boosted its position in shares of WEC Energy Group by 16.1% during the second quarter. CWM LLC now owns 22,696 shares of the utilities provider's stock worth $2,365,000 after purchasing an additional 3,142 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of WEC Energy Group by 27.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 41,253 shares of the utilities provider's stock worth $4,303,000 after purchasing an additional 8,873 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of WEC Energy Group by 24.9% during the second quarter. Concurrent Investment Advisors LLC now owns 28,299 shares of the utilities provider's stock worth $2,949,000 after purchasing an additional 5,648 shares in the last quarter. Finally, Cerro Pacific Wealth Advisors LLC raised its holdings in shares of WEC Energy Group by 43.7% during the second quarter. Cerro Pacific Wealth Advisors LLC now owns 6,582 shares of the utilities provider's stock worth $686,000 after acquiring an additional 2,002 shares during the period. 77.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the transaction, the executive vice president owned 6,606 shares of the company's stock, valued at $734,190.84. This trade represents a 47.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $110.30, for a total transaction of $460,723.10. Following the completion of the transaction, the vice president directly owned 1,757 shares of the company's stock, valued at approximately $193,797.10. This trade represents a 70.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,448 shares of company stock worth $7,581,132. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WEC. Weiss Ratings restated a "buy (b-)" rating on shares of WEC Energy Group in a report on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded shares of WEC Energy Group from a "neutral" rating to a "buy" rating in a report on Monday. Scotiabank raised their price objective on shares of WEC Energy Group from $115.00 to $129.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Citigroup began coverage on shares of WEC Energy Group in a report on Friday, October 3rd. They set a "buy" rating and a $131.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $113.60.

WEC Energy Group Stock Up 0.7%

Shares of WEC stock opened at $117.28 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $117.48. The firm's fifty day moving average price is $110.30 and its two-hundred day moving average price is $107.86. The firm has a market capitalization of $37.75 billion, a P/E ratio of 22.47, a PEG ratio of 3.28 and a beta of 0.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The firm had revenue of $2.28 billion for the quarter. On average, equities analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

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.

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