Boston Financial Mangement LLC Sells 135 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Boston Financial Mangement LLC reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,572 shares of the utilities provider’s stock after selling 135 shares during the quarter. Boston Financial Mangement LLC’s holdings in WEC Energy Group were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Concurrent Investment Advisors LLC lifted its position in shares of WEC Energy Group by 5.4% during the 4th quarter. Concurrent Investment Advisors LLC now owns 21,275 shares of the utilities provider’s stock worth $2,001,000 after buying an additional 1,097 shares during the last quarter. Wealth Alliance raised its position in WEC Energy Group by 0.8% in the fourth quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock valued at $1,325,000 after purchasing an additional 110 shares during the last quarter. Global Retirement Partners LLC raised its position in WEC Energy Group by 3.4% in the fourth quarter. Global Retirement Partners LLC now owns 21,414 shares of the utilities provider’s stock valued at $2,014,000 after purchasing an additional 709 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in WEC Energy Group in the fourth quarter valued at about $59,000. Finally, Mcdonald Partners LLC raised its position in WEC Energy Group by 5.8% in the fourth quarter. Mcdonald Partners LLC now owns 8,657 shares of the utilities provider’s stock valued at $814,000 after purchasing an additional 475 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Up 0.0 %

NYSE WEC opened at $103.59 on Friday. The business has a 50 day simple moving average of $97.60 and a 200 day simple moving average of $96.22. WEC Energy Group, Inc. has a one year low of $76.50 and a one year high of $104.15. The stock has a market capitalization of $32.77 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.60 and a beta of 0.49. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.22%. WEC Energy Group’s dividend payout ratio (DPR) is presently 73.91%.

Analyst Upgrades and Downgrades

Several research firms have commented on WEC. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank increased their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company increased their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average price target of $101.88.

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.