WEC Energy Group, Inc. (NYSE:WEC) Stock Position Lifted by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its position in WEC Energy Group, Inc. (NYSE:WEC) by 16.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,232 shares of the utilities provider’s stock after buying an additional 1,162 shares during the quarter. Carnegie Investment Counsel’s holdings in WEC Energy Group were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of WEC. Czech National Bank grew its holdings in shares of WEC Energy Group by 7.0% in the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock worth $6,193,000 after purchasing an additional 4,205 shares during the last quarter. Lantz Financial LLC boosted its holdings in shares of WEC Energy Group by 324.9% in the 1st quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock valued at $2,337,000 after buying an additional 21,758 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of WEC Energy Group by 18.2% in the 4th quarter. Quadrature Capital Ltd now owns 38,980 shares of the utilities provider’s stock valued at $3,282,000 after purchasing an additional 5,994 shares during the period. Brookstone Capital Management raised its holdings in shares of WEC Energy Group by 789.0% in the 1st quarter. Brookstone Capital Management now owns 125,219 shares of the utilities provider’s stock valued at $10,283,000 after purchasing an additional 111,134 shares during the period. Finally, Keystone Financial Planning Inc. acquired a new position in WEC Energy Group in the 1st quarter valued at about $7,116,000. Institutional investors own 77.20% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares in the company, valued at approximately $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the sale, the vice president now owns 2,377 shares in the company, valued at $213,335.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock valued at $1,078,058 in the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WEC has been the topic of a number of analyst reports. KeyCorp increased their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group began coverage on shares of WEC Energy Group in a report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target for the company. BMO Capital Markets raised their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Finally, Scotiabank lifted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $93.73.

WEC Energy Group Price Performance

WEC stock opened at $96.30 on Tuesday. The company’s fifty day moving average price is $93.36 and its 200-day moving average price is $85.59. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $97.08. The company has a market capitalization of $30.41 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a $0.835 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.47%. WEC Energy Group’s payout ratio is currently 72.93%.

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.