Truist Financial Corp Reduces Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Truist Financial Corp lessened its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,795 shares of the utilities provider’s stock after selling 4,660 shares during the period. Truist Financial Corp’s holdings in WEC Energy Group were worth $13,993,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Annex Advisory Services LLC lifted its position in shares of WEC Energy Group by 6.5% during the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock valued at $10,405,000 after buying an additional 6,785 shares during the last quarter. DRW Securities LLC purchased a new position in shares of WEC Energy Group during the 3rd quarter valued at $1,392,000. Matrix Trust Co purchased a new position in shares of WEC Energy Group during the 4th quarter valued at $1,538,000. Motley Fool Wealth Management LLC lifted its position in shares of WEC Energy Group by 51.0% during the 3rd quarter. Motley Fool Wealth Management LLC now owns 29,978 shares of the utilities provider’s stock valued at $2,883,000 after buying an additional 10,126 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in WEC Energy Group by 20.9% during the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock worth $42,689,000 after purchasing an additional 78,580 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $103.59 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $32.77 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.59 and a beta of 0.49. The business’s 50-day moving average price is $97.60 and its 200-day moving average price is $96.22. WEC Energy Group, Inc. has a 12 month low of $76.50 and a 12 month high of $104.15.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data 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 the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. WEC Energy Group’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.10 earnings per share. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently declared 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 is Friday, February 14th. This represents a $3.34 annualized dividend and a yield of 3.22%. WEC Energy Group’s payout ratio is 73.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WEC. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Wells Fargo & Company increased their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus target price of $101.88.

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.