Everence Capital Management Inc. Has $669,000 Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Everence Capital Management Inc. grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 101.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,950 shares of the utilities provider’s stock after acquiring an additional 4,010 shares during the period. Everence Capital Management Inc.’s holdings in WEC Energy Group were worth $669,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WEC. American Century Companies Inc. lifted its position in 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 worth $118,015,000 after acquiring an additional 1,437,768 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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 worth $131,757,000 after purchasing an additional 1,121,075 shares during the period. Envestnet Asset Management Inc. increased its holdings 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 worth $69,379,000 after purchasing an additional 488,917 shares during the period. The Manufacturers Life Insurance Company increased its holdings 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 worth $67,677,000 after purchasing an additional 410,082 shares during the period. Finally, CI Investments Inc. increased its holdings 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 worth $29,954,000 after purchasing an additional 369,786 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

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

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $79.61 on Thursday. The firm has a market cap 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. The firm’s fifty day moving average is $79.64 and its 200-day moving average is $81.32. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $98.80.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective on the stock. Bank of America reissued an “underperform” rating and issued a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Barclays decreased their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Finally, Wells Fargo & Company decreased their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, WEC Energy Group currently has an average rating of “Hold” and an average target price of $86.31.

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.