CTC Alternative Strategies Ltd. Makes New $1.99 Million Investment in WEC Energy Group, Inc. (NYSE:WEC)

CTC Alternative Strategies Ltd. acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,629 shares of the utilities provider's stock, valued at approximately $1,989,000. WEC Energy Group comprises approximately 4.1% of CTC Alternative Strategies Ltd.'s investment portfolio, making the stock its 4th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. Advisors Capital Management LLC grew its holdings in shares of WEC Energy Group by 2.3% during the third quarter. Advisors Capital Management LLC now owns 4,799 shares of the utilities provider's stock worth $444,000 after purchasing an additional 108 shares during the last quarter. Stonebridge Capital Advisors LLC grew its holdings in shares of WEC Energy Group by 12.1% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,059 shares of the utilities provider's stock worth $99,000 after buying an additional 114 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of WEC Energy Group by 1.2% during the third quarter. Portside Wealth Group LLC now owns 10,374 shares of the utilities provider's stock worth $837,000 after buying an additional 127 shares during the last quarter. Balentine LLC grew its holdings in shares of WEC Energy Group by 2.7% during the third quarter. Balentine LLC now owns 4,899 shares of the utilities provider's stock worth $395,000 after buying an additional 131 shares during the last quarter. Finally, Blossom Wealth Management grew its holdings in shares of WEC Energy Group by 3.6% during the third quarter. Blossom Wealth Management now owns 3,797 shares of the utilities provider's stock worth $306,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WEC. Royal Bank of Canada lowered their price target on WEC Energy Group from $95.00 to $90.00 and set a "sector perform" rating on the stock in a report on Thursday, February 8th. Mizuho reduced their price objective on shares of WEC Energy Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Monday, December 18th. KeyCorp raised their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the company an "overweight" rating in a research report on Thursday, January 4th. Bank of America restated an "underperform" rating and issued a $78.00 price objective (down previously from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Finally, The Goldman Sachs Group began coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a "neutral" rating and a $88.00 price target for the company. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $86.31.

Insiders Place Their Bets

In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Gale E. Klappa sold 37,180 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total value of $2,925,694.20. Following the transaction, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the firm's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Insiders own 0.44% of the company's stock.

WEC Energy Group Price Performance

WEC stock traded down $0.08 on Monday, hitting $78.89. 1,731,324 shares of the company's stock traded hands, compared to its average volume of 2,179,016. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $98.80. The stock has a market cap of $24.88 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 2.75 and a beta of 0.40. The stock has a fifty day moving average of $79.61 and a 200-day moving average of $81.36. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Thursday, February 1st. The utilities provider reported $1.10 EPS for the quarter, beating the consensus estimate of $1.08 by $0.02. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share. On average, analysts forecast that WEC Energy Group, Inc. will post 4.88 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.