Carnick Kubik adds WEC Energy Group Inc (WEC) to its portfolio

WEC Energy Group Inc (WEC) : Carnick Kubik added new position in WEC Energy Group Inc during the most recent quarter end. The investment management firm now holds 27,143 shares of WEC Energy Group Inc which is valued at $1.6 Million , the company said in a statement filed on May 12, 2016 with the SEC.WEC Energy Group Inc makes up approximately 0.80% of Carnick Kubik’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services added WEC to its portfolio by purchasing 3,467 company shares during the most recent quarter which is valued at $207,708. WEC Energy Group Inc makes up approx 0.01% of First Allied Advisory Services’s portfolio.Azimuth Capital Management reduced its stake in WEC by selling 4,230 shares or 3.83% in the most recent quarter. The Hedge Fund company now holds 106,150 shares of WEC which is valued at $6.4 Million. WEC Energy Group Inc makes up approx 0.61% of Azimuth Capital Management’s portfolio.Blue Chip Partners boosted its stake in WEC in the latest quarter, The investment management firm added 1,057 additional shares and now holds a total of 25,483 shares of WEC Energy Group Inc which is valued at $1.5 Million. WEC Energy Group Inc makes up approx 0.74% of Blue Chip Partners’s portfolio.Geneva Advisors boosted its stake in WEC in the latest quarter, The investment management firm added 751 additional shares and now holds a total of 41,012 shares of WEC Energy Group Inc which is valued at $2.4 Million. WEC Energy Group Inc makes up approx 0.05% of Geneva Advisors’s portfolio. Quantbot Technologies Lp added WEC to its portfolio by purchasing 4,879 company shares during the most recent quarter which is valued at $284,007. WEC Energy Group Inc makes up approx 0.04% of Quantbot Technologies Lp’s portfolio.

WEC Energy Group Inc opened for trading at $58.68 and hit $58.68 on the upside on Friday, eventually ending the session at $58.51, with a gain of 0.15% or 0.09 points. The heightened volatility saw the trading volume jump to 44,60,613 shares. Company has a market cap of $18,468,506 M.

On the company’s financial health, WEC Energy Group Inc reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.01. The company had revenue of $2194.80 million for the quarter, compared to analysts expectations of $2553.66 million. The company’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS.

Many Wall Street Analysts have commented on WEC Energy Group Inc. Company shares were Upgraded by UBS on May 9, 2016 to ” Neutral”, Firm has raised the Price Target to $ 58 from a previous price target of $53 .

WEC Energy GroupInc. formerly Wisconsin Energy Corporation is a holding company. The Company operates through two segments: utility energy segment and non-utility energy segment. Its utility energy segment consists of Wisconsin Electric and Wisconsin Gas operating together under the trade name of We Energies. Its non-utility energy segment consists of We Power which owns and leases to Wisconsin Electric generation plants constructed as part of its Power the Future (PTF) strategy. Its other non-utility operations consist of the operations of its subsidiaries Wispark LLC and Bostco LLC. Its principal utilities include Wisconsin Public Service Peoples Gas North Shore Gas Michigan Gas Utilities and Minnesota Energy Resources among others. Its primary subsidiaries are Wisconsin Electric Power Company (Wisconsin Electric) Wisconsin Gas LLC (Wisconsin Gas) W.E. Power LLC (We Power) Integrys Energy Group Inc. and Integrys Holding Inc. among others.

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