Kentucky Retirement Systems Has $1.87 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Kentucky Retirement Systems reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,799 shares of the utilities provider’s stock after selling 156 shares during the period. Kentucky Retirement Systems’ holdings in WEC Energy Group were worth $1,867,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Confluence Investment Management LLC acquired a new stake in WEC Energy Group during the first quarter valued at approximately $127,945,000. Envestnet Asset Management Inc. boosted its stake in WEC Energy Group by 93.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock valued at $140,146,000 after buying an additional 803,718 shares in the last quarter. American Century Companies Inc. grew its position in WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock valued at $201,328,000 after acquiring an additional 688,812 shares during the period. Earnest Partners LLC raised its stake in WEC Energy Group by 36.0% during the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after acquiring an additional 462,646 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of WEC Energy Group during the first quarter valued at $23,297,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $94.72 on Friday. The business’s 50-day simple moving average is $89.76 and its 200 day simple moving average is $83.92. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. The stock has a market cap of $29.91 billion, a price-to-earnings ratio of 20.68, a P/E/G ratio of 2.47 and a beta of 0.44. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.65.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $0.92 EPS. WEC Energy Group’s revenue was down 3.2% on a year-over-year basis. As a group, research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

Insider Transactions at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the completion of the transaction, the vice president now owns 1,462 shares in the company, valued at $129,796.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock worth $1,078,058 in the last three months. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WEC. Scotiabank upped their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Barclays raised their price target on WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Finally, Jefferies Financial Group assumed coverage on WEC Energy Group in a research note on Thursday. They issued a “hold” rating and a $102.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $91.31.

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.