Mirae Asset Global Investments Co. Ltd. Sells 46,750 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 43.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,285 shares of the utilities provider's stock after selling 46,750 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in WEC Energy Group were worth $5,074,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Quilter Plc bought a new stake in WEC Energy Group during the 1st quarter worth approximately $234,348,000. Achmea Investment Management B.V. acquired a new position in WEC Energy Group during the 1st quarter worth approximately $27,000. First Manhattan Co. boosted its position in WEC Energy Group by 102.0% during the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider's stock worth $28,000 after acquiring an additional 153 shares during the last quarter. Valued Wealth Advisors LLC acquired a new position in WEC Energy Group during the 4th quarter worth approximately $28,000. Finally, Fortitude Family Office LLC acquired a new position in WEC Energy Group during the 4th quarter worth approximately $33,000. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Stock Performance

WEC traded down $1.10 during trading hours on Tuesday, reaching $77.79. The company's stock had a trading volume of 1,968,329 shares, compared to its average volume of 2,176,079. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $98.80. The company's 50-day moving average is $79.61 and its 200-day moving average is $81.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The firm has a market cap of $24.54 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 2.75 and a beta of 0.40.

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

Insiders Place Their Bets

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott J. Lauber sold 2,830 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the transaction, the chief executive officer now owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. downgraded WEC Energy Group from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Royal Bank of Canada reduced their price target on WEC Energy Group from $95.00 to $90.00 and set a "sector perform" rating for the company in a research report on Thursday, February 8th. Wells Fargo & Company cut their price objective on WEC Energy Group from $93.00 to $91.00 and set an "overweight" rating for the company in a report on Friday, February 2nd. Bank of America reissued an "underperform" rating and issued a $78.00 price objective (down previously from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Finally, Barclays cut their price objective on WEC Energy Group from $79.00 to $75.00 and set an "underweight" rating for the company in a report on Thursday, February 8th. Four equities research analysts have 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, the stock currently has a consensus rating of "Hold" and an average target price of $86.31.

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.