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

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

A number of other large investors have also added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its stake in WEC Energy Group by 5.4% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,275 shares of the utilities provider’s stock valued at $2,001,000 after acquiring an additional 1,097 shares during the period. Wealth Alliance raised its stake in WEC Energy Group by 0.8% in the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock valued at $1,325,000 after acquiring an additional 110 shares during the period. Global Retirement Partners LLC raised its stake in WEC Energy Group by 3.4% in the 4th quarter. Global Retirement Partners LLC now owns 21,414 shares of the utilities provider’s stock valued at $2,014,000 after acquiring an additional 709 shares during the period. Bank of Jackson Hole Trust bought a new stake in WEC Energy Group in the 4th quarter valued at $59,000. Finally, Mcdonald Partners LLC raised its stake in WEC Energy Group by 5.8% in the 4th quarter. Mcdonald Partners LLC now owns 8,657 shares of the utilities provider’s stock valued at $814,000 after acquiring an additional 475 shares during the period. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

WEC opened at $103.59 on Friday. The firm has a market cap of $32.77 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $104.15. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The business’s fifty day moving average is $97.60 and its 200-day moving average is $96.22.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. Sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal 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 given a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.22%. WEC Energy Group’s dividend payout ratio is currently 73.91%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WEC shares. Scotiabank increased their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. KeyCorp upped their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets upped their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.