Kentucky Retirement Systems Decreases Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Kentucky Retirement Systems decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,721 shares of the utilities provider’s stock after selling 299 shares during the period. Kentucky Retirement Systems’ holdings in WEC Energy Group were worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in WEC. Mizuho Securities USA LLC raised its holdings in shares of WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after buying an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after buying an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after buying an additional 1,912,223 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after buying an additional 699,177 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock worth $182,765,000 after buying an additional 695,317 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WEC shares. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp raised their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Up 0.5 %

WEC stock opened at $104.04 on Friday. The firm has a market cap of $32.91 billion, a PE ratio of 21.54, 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 quick ratio of 0.43 and a current ratio of 0.60. The firm’s fifty day moving average is $97.76 and its 200 day moving average is $96.39. WEC Energy Group, Inc. has a one year low of $76.50 and a one year high of $104.98.

WEC Energy Group (NYSE:WEC) last released its quarterly 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). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.10 EPS. On average, research analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

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

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.