Truist Financial Corp Sells 4,660 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Truist Financial Corp reduced its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 3.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 148,795 shares of the utilities provider’s stock after selling 4,660 shares during the quarter. Truist Financial Corp’s holdings in WEC Energy Group were worth $13,993,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WEC. Coastline Trust Co bought a new stake in shares of WEC Energy Group in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group in the 3rd quarter worth approximately $45,000. Human Investing LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $52,000. Robbins Farley bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $64,000. Finally, Concord Wealth Partners grew its position in shares of WEC Energy Group by 20.7% in the 3rd quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after buying an additional 133 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. KeyCorp raised their target price on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their target price for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Stock Up 0.0 %

Shares of NYSE:WEC opened at $103.59 on Friday. The stock has a fifty day simple moving average of $97.60 and a two-hundred day simple moving average of $96.22. The stock has a market capitalization of $32.77 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.59 and a beta of 0.49. WEC Energy Group, Inc. has a 12-month low of $76.50 and a 12-month high of $104.15. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 EPS. On average, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s payout ratio is 73.91%.

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.