Kentucky Retirement Systems Insurance Trust Fund Invests $432,000 in WEC Energy Group Inc (WEC)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in WEC Energy Group Inc (NYSE:WEC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,241 shares of the utilities provider’s stock, valued at approximately $432,000.

Other large investors also recently made changes to their positions in the company. We Are One Seven LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $30,000. Essex Investment Management Co. LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $30,000. ERTS Wealth Advisors LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $30,000. Oregon Public Employees Retirement Fund raised its stake in WEC Energy Group by 6,740.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,359,757 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 2,325,262 shares during the last quarter. Finally, Kings Point Capital Management acquired a new position in WEC Energy Group in the 4th quarter valued at $34,000. 74.95% of the stock is owned by institutional investors.

In related news, CFO Scott J. Lauber sold 3,650 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $76.26, for a total transaction of $278,349.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Allen L. Leverett sold 112,250 shares of WEC Energy Group stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $74.35, for a total value of $8,345,787.50. Following the completion of the transaction, the director now owns 151,589 shares in the company, valued at $11,270,642.15. The disclosure for this sale can be found here. Insiders have sold a total of 456,668 shares of company stock worth $34,330,208 in the last three months. Corporate insiders own 0.75% of the company’s stock.

Several research analysts recently commented on WEC shares. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Wells Fargo & Co upped their target price on WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Argus upped their target price on WEC Energy Group to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their target price for the company from $71.00 to $70.00 in a report on Monday, April 8th. Finally, Credit Suisse Group upped their target price on WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $73.70.

WEC traded down $0.13 during mid-day trading on Friday, hitting $76.29. 1,842,825 shares of the stock were exchanged, compared to its average volume of 1,762,247. WEC Energy Group Inc has a 1-year low of $58.48 and a 1-year high of $80.05. The company has a current ratio of 0.67, a quick ratio of 0.51 and a debt-to-equity ratio of 1.02. The firm has a market cap of $24.07 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 5.04 and a beta of 0.16.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 12th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.96 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. WEC Energy Group’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 EPS. On average, research analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, May 13th. WEC Energy Group’s dividend payout ratio (DPR) is presently 70.66%.

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About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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