Connor Clark & Lunn Investment Management Ltd. Invests $3.40 Million in WEC Energy Group, Inc. (NYSE:WEC)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 36,184 shares of the utilities provider’s stock, valued at approximately $3,403,000.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Raymond James Financial Inc. acquired a new position in WEC Energy Group in the fourth quarter valued at $188,879,000. Charles Schwab Investment Management Inc. lifted its position in WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after buying an additional 1,912,223 shares during the period. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of WEC Energy Group by 57.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after acquiring an additional 695,317 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WEC shares. Scotiabank raised their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $107.12 on Tuesday. The business’s 50-day simple moving average is $101.55 and its 200 day simple moving average is $98.16. The company has a market cap of $33.83 billion, a P/E ratio of 22.18, a PEG ratio of 2.60 and a beta of 0.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 EPS. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently 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.