WEC Energy Group, Inc. (NYSE:WEC) Shares Acquired by Carnegie Investment Counsel

Carnegie Investment Counsel increased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 8,403 shares of the utilities provider’s stock after acquiring an additional 233 shares during the quarter. Carnegie Investment Counsel’s holdings in WEC Energy Group were worth $867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in WEC Energy Group during the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group during the first quarter valued at approximately $32,000. Prudent Man Investment Management Inc. acquired a new stake in WEC Energy Group during the fourth quarter valued at approximately $28,000. Golden State Wealth Management LLC raised its stake in WEC Energy Group by 252.6% during the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider’s stock valued at $37,000 after buying an additional 245 shares in the last quarter. Finally, Creekmur Asset Management LLC raised its stake in WEC Energy Group by 2,420.0% during the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider’s stock valued at $41,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $109.53 on Friday. WEC Energy Group, Inc. has a 12-month low of $83.13 and a 12-month high of $111.00. The firm has a market capitalization of $34.95 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 3.01 and a beta of 0.44. The business has a 50 day simple moving average of $105.75 and a 200 day simple moving average of $104.79. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company posted $1.97 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group’s payout ratio is currently 69.59%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WEC shares. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Barclays upped their price objective on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. UBS Group upped their target price on WEC Energy Group from $105.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 11th. The Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $106.40.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the transaction, the vice president directly owned 2,686 shares of the company’s stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company’s stock.

About WEC Energy Group

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.