WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,721 shares of the utilities provider’s stock after selling 299 shares during the quarter. Kentucky Retirement Systems’ holdings in WEC Energy Group were worth $2,043,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Coastline Trust Co acquired a new position in WEC Energy Group during the third quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in WEC Energy Group during the third quarter worth about $45,000. Human Investing LLC acquired a new position in WEC Energy Group during the fourth quarter worth about $52,000. Bank of Jackson Hole Trust acquired a new position in WEC Energy Group during the fourth quarter worth about $59,000. Finally, Kestra Investment Management LLC acquired a new position in WEC Energy Group during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $104.04 on Friday. The company’s 50 day simple moving average is $97.76 and its 200-day simple moving average is $96.39. The company has a market capitalization of $32.91 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 1 year low of $76.50 and a 1 year high of $104.98. 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 (NYSE:WEC) last released its quarterly earnings results 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 company had revenue of $2.28 billion during 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%. WEC Energy Group’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. As a group, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 73.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WEC. KeyCorp boosted their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Scotiabank lifted 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 note on Monday, December 9th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $90.00 to $98.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $101.88.

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.