Does Bad Debt Risk Affect WEC Energy Group (WEC) Stock Price?

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Mid Cap Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The fund underperformed in the quarter relative to its benchmark Russell Midcap Index. Inflation and the Fed’s actions impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like WEC Energy Group, Inc. (NYSE:WEC) in its Q3 2022 investor letter. Headquartered in Milwaukee, Wisconsin, WEC Energy Group, Inc. (NYSE:WEC) is a US-based regulated energy provider. On December 30, 2022, WEC Energy Group, Inc. (NYSE:WEC) stock closed at $93.76 per share. One-month return of WEC Energy Group, Inc. (NYSE:WEC) was -2.39%, and its shares lost 3.41% of their value over the last 52 weeks. WEC Energy Group, Inc. (NYSE:WEC) has a market capitalization of $29.575 billion.

Carillon Tower Advisers made the following comment about WEC Energy Group, Inc. (NYSE:WEC) in its Q3 2022 investor letter:

“WEC Energy Group, Inc. (NYSE:WEC), the Wisconsin electric and gas utility, fell in a weak utility group as interest rates rose and fears of bad debt expenses gathered. We view the company’s bad debt risk as relatively modest compared to the industry.”

WEC Energy Group, Inc. (NYSE:WEC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held WEC Energy Group, Inc. (NYSE:WEC) at the end of the third quarter, which was 31 in the previous quarter.

We discussed WEC Energy Group, Inc. (NYSE:WEC) in another article and shared the best electric utility stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.