Teachers Retirement System of The State of Kentucky Sells 1,252 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Teachers Retirement System of The State of Kentucky cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,114 shares of the utilities provider’s stock after selling 1,252 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in WEC Energy Group were worth $2,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Deutsche Bank AG increased its stake in shares of WEC Energy Group by 3.0% in the third quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider’s stock worth $442,697,000 after purchasing an additional 158,652 shares in the last quarter. JPMorgan Chase & Co. increased its stake in WEC Energy Group by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider’s stock worth $346,021,000 after buying an additional 142,412 shares in the last quarter. Northern Trust Corp raised its holdings in WEC Energy Group by 2.9% during the fourth quarter. Northern Trust Corp now owns 4,071,148 shares of the utilities provider’s stock valued at $342,669,000 after acquiring an additional 116,219 shares during the period. Morgan Stanley lifted its position in shares of WEC Energy Group by 1.4% in the third quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider’s stock valued at $270,179,000 after acquiring an additional 44,797 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of WEC Energy Group by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,777,770 shares of the utilities provider’s stock worth $149,635,000 after acquiring an additional 51,540 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WEC. The Goldman Sachs Group began coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target on the stock. KeyCorp upped their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Scotiabank reduced their price target on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets increased their price objective on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Finally, StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.92.

WEC Energy Group Price Performance

WEC stock opened at $79.26 on Friday. The stock has a market cap of $25.03 billion, a PE ratio of 17.31, a P/E/G ratio of 2.02 and a beta of 0.42. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $93.37. The company has a 50-day moving average price of $81.54 and a 200 day moving average price of $81.34. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the previous year, the business earned $1.61 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were issued a dividend of $0.835 per share. The ex-dividend date was Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a yield of 4.21%. WEC Energy Group’s payout ratio is 72.93%.

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.