Carnegie Capital Asset Management LLC Purchases Shares of 2,434 WEC Energy Group, Inc. (NYSE:WEC)

Carnegie Capital Asset Management LLC purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,434 shares of the utilities provider’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quilter Plc acquired a new stake in WEC Energy Group in the first quarter valued at $234,348,000. Achmea Investment Management B.V. acquired a new stake in WEC Energy Group in the first quarter valued at $27,000. Tennessee Valley Asset Management Partners acquired a new stake in WEC Energy Group in the fourth quarter valued at $26,000. First Manhattan Co. raised its stake in WEC Energy Group by 102.0% in the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in WEC Energy Group in the fourth quarter valued at $28,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction that occurred 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 sale, the chief executive officer now owns 43,125 shares of the company’s stock, valued at approximately $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of WEC Energy Group stock in a transaction that occurred 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 sale, the chairman now owns 274,782 shares of the company’s stock, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group 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 completion of the sale, the chief executive officer now directly owns 43,125 shares in the company, 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 Stock Performance

NYSE WEC opened at $79.61 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $98.80. The business’s 50-day moving average price is $79.64 and its 200 day moving average price is $81.32. The firm has a market cap of $25.11 billion, a P/E ratio of 18.86, a P/E/G ratio of 2.71 and a beta of 0.40.

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

Analyst Upgrades and Downgrades

WEC has been the topic of a number of research analyst reports. Barclays cut their target price on WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research report on Thursday, February 8th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. JPMorgan Chase & Co. cut WEC Energy Group from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Wells Fargo & Company cut their target price on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, KeyCorp lifted their target price on WEC Energy Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.