Kentucky Retirement Systems Insurance Trust Fund Has $855,000 Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,410 shares of the utilities provider’s stock after selling 828 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in WEC Energy Group were worth $855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of WEC Energy Group by 87.2% during the fourth quarter. Pacer Advisors Inc. now owns 59,018 shares of the utilities provider’s stock worth $4,968,000 after purchasing an additional 27,488 shares during the period. Blue Trust Inc. grew its stake in shares of WEC Energy Group by 11.5% during the fourth quarter. Blue Trust Inc. now owns 7,544 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 781 shares during the period. Alta Capital Management LLC grew its stake in shares of WEC Energy Group by 2.4% during the fourth quarter. Alta Capital Management LLC now owns 26,906 shares of the utilities provider’s stock worth $2,265,000 after purchasing an additional 623 shares during the period. LVZ Inc. grew its stake in shares of WEC Energy Group by 5.5% during the fourth quarter. LVZ Inc. now owns 5,778 shares of the utilities provider’s stock worth $486,000 after purchasing an additional 300 shares during the period. Finally, Trust Point Inc. acquired a new stake in shares of WEC Energy Group during the fourth quarter worth $805,000. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC traded up $0.21 during mid-day trading on Monday, reaching $83.94. The company’s stock had a trading volume of 384,284 shares, compared to its average volume of 2,090,976. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $91.44. The stock has a market cap of $26.51 billion, a P/E ratio of 18.28, a PEG ratio of 2.16 and a beta of 0.41. The business has a 50-day simple moving average of $80.05 and a two-hundred day simple moving average of $80.48. 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 released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the firm posted $1.61 earnings per share. The business’s revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.98%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

Wall Street Analysts Forecast Growth

WEC has been the subject of several recent analyst reports. KeyCorp lowered their price target on WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. The Goldman Sachs Group initiated coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price target for the company. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Scotiabank reduced their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research report on Monday, April 22nd. Finally, BMO Capital Markets reduced their price objective on WEC Energy Group from $90.00 to $87.00 and set a “market perform” rating for the company in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.00.

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.