Carnegie Capital Asset Management LLC Invests $205,000 in WEC Energy Group, Inc. (NYSE:WEC)

Carnegie Capital Asset Management LLC acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,434 shares of the utilities provider’s stock, valued at approximately $205,000.

Several other institutional investors also recently modified their holdings of WEC. American Century Companies Inc. boosted its position in shares of WEC Energy Group by 5,257.7% during the third quarter. American Century Companies Inc. now owns 1,465,114 shares of the utilities provider’s stock valued at $118,015,000 after buying an additional 1,437,768 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of WEC Energy Group by 563.3% during the first quarter. Renaissance Technologies LLC now owns 1,320,077 shares of the utilities provider’s stock valued at $131,757,000 after buying an additional 1,121,075 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of WEC Energy Group by 131.3% during the third quarter. Envestnet Asset Management Inc. now owns 861,320 shares of the utilities provider’s stock valued at $69,379,000 after buying an additional 488,917 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of WEC Energy Group by 153.0% during the first quarter. The Manufacturers Life Insurance Company now owns 678,057 shares of the utilities provider’s stock valued at $67,677,000 after buying an additional 410,082 shares during the last quarter. Finally, CI Investments Inc. boosted its position in shares of WEC Energy Group by 17,727.0% during the third quarter. CI Investments Inc. now owns 371,872 shares of the utilities provider’s stock valued at $29,954,000 after buying an additional 369,786 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on WEC shares. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $90.00 to $84.00 in a report on Friday, February 2nd. The Goldman Sachs Group started coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 target price on the stock. Bank of America reissued an “underperform” rating and issued a $78.00 target price (down previously from $84.00) on shares of WEC Energy Group in a report on Thursday, January 4th. Finally, Barclays lowered their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Four 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $86.31.

WEC Energy Group Stock Up 2.3 %

Shares of WEC opened at $79.61 on Thursday. The business’s 50 day moving average is $79.64 and its 200 day moving average is $81.32. The company has a market capitalization of $25.11 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 2.71 and a beta of 0.40. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $98.80. 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) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.02. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Research analysts expect that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 approximately $3,402,131.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred 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 completion of 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 is accessible through this link. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 of the company’s stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.