Harbour Investments Inc. Buys 4,257 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Harbour Investments Inc. increased its stake in WEC Energy Group by 10.6%, purchasing an additional 4,257 shares, bringing its total ownership to 44,437 shares valued at approximately $4.63 million.
• Insider transactions reveal that CEO Scott J. Lauber sold 9,231 shares recently, decreasing his ownership by 14.06%, while VP Anthony Reese sold 4,177 shares, reflecting a substantial ownership reduction of 70.39%.
• WEC Energy Group's stock has received mixed ratings, with six analysts rating it as a Buy and six others assigning a Hold rating; its current average price target is set at $113.60.

Harbour Investments Inc. boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 10.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,437 shares of the utilities provider's stock after purchasing an additional 4,257 shares during the period. Harbour Investments Inc.'s holdings in WEC Energy Group were worth $4,630,000 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 stock. Charles Schwab Investment Management Inc. boosted its stake in shares of WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock worth $567,727,000 after buying an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in WEC Energy Group by 16.6% in the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after acquiring an additional 726,267 shares during the period. Ameriprise Financial Inc. grew its stake in shares of WEC Energy Group by 0.8% during the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider's stock valued at $466,451,000 after purchasing an additional 33,810 shares during the period. Northern Trust Corp increased its position in shares of WEC Energy Group by 4.9% during the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider's stock valued at $436,298,000 after purchasing an additional 188,057 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of WEC Energy Group in the 1st quarter worth approximately $403,372,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Scott J. Lauber sold 9,231 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the transaction, the chief executive officer directly owned 56,443 shares of the company's stock, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Anthony Reese sold 4,177 shares of WEC Energy Group stock in a transaction on 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 sale, the vice president owned 1,757 shares in the company, valued at approximately $193,797.10. This represents a 70.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock valued at $7,581,132 in the last quarter. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup began coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They set a "buy" rating and a $131.00 target price for the company. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a "neutral" rating to a "buy" rating in a research report on Monday. Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Saturday, October 4th. UBS Group lifted their target price on WEC Energy Group from $117.00 to $122.00 and gave the company a "neutral" rating in a research report on Friday, October 10th. Finally, KeyCorp boosted their price target on WEC Energy Group from $110.00 to $123.00 and gave the company an "overweight" rating in a report on Wednesday. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $113.60.

WEC Energy Group Price Performance

NYSE:WEC opened at $117.28 on Thursday. The stock has a market cap of $37.75 billion, a PE ratio of 22.47, a P/E/G ratio of 3.28 and a beta of 0.47. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The business's 50-day simple moving average is $110.30 and its two-hundred day simple moving average is $107.86. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $117.48.

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

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.

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