WEC Energy Group, Inc. (NYSE:WEC) Stake Lessened by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,358 shares of the utilities provider’s stock after selling 829 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in WEC Energy Group were worth $900,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. raised its stake in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new position in WEC Energy Group during the 2nd quarter worth approximately $29,000. Coastline Trust Co bought a new position in WEC Energy Group during the 3rd quarter worth approximately $29,000. William B. Walkup & Associates Inc. acquired a new position in shares of WEC Energy Group in the 2nd quarter worth approximately $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at approximately $36,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Up 1.9 %

WEC opened at $97.98 on Monday. The stock’s 50 day moving average price is $96.24 and its 200 day moving average price is $88.34. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market cap of $31.00 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.66 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $100.31.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. As a group, research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is currently 81.66%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. KeyCorp raised their price objective on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Scotiabank lifted their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective for the company. Bank of America raised their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.45.

Insider Activity

In other news, VP William J. Guc sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. This trade represents a 43.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now owns 3,662 shares in the company, valued at $340,712.48. The trade was a 46.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

About WEC Energy Group

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.