Kestra Investment Management LLC Invests $61,000 in WEC Energy Group, Inc. (NYSE:WEC)

Kestra Investment Management LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 652 shares of the utilities provider’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marshall Financial Group LLC raised its holdings in WEC Energy Group by 4.8% in the fourth quarter. Marshall Financial Group LLC now owns 2,198 shares of the utilities provider’s stock valued at $207,000 after buying an additional 100 shares during the period. Tsfg LLC increased its position in shares of WEC Energy Group by 4.6% in the fourth quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 119 shares in the last quarter. Concord Wealth Partners raised its stake 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 valued at $75,000 after acquiring an additional 133 shares during the period. TrinityPoint Wealth LLC lifted its holdings in shares of WEC Energy Group by 1.3% during the 3rd quarter. TrinityPoint Wealth LLC now owns 10,755 shares of the utilities provider’s stock valued at $1,034,000 after acquiring an additional 134 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in WEC Energy Group by 4.7% during the 3rd quarter. Synovus Financial Corp now owns 2,980 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Wells Fargo & Company raised their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. BMO Capital Markets upped their price target 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 upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. Finally, KeyCorp upped their target price on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Up 0.5 %

WEC stock opened at $104.04 on Friday. The firm has a fifty day moving average price of $97.76 and a two-hundred day moving average price of $96.33. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a 1-year low of $76.50 and a 1-year high of $104.98. The firm has a market cap of $32.91 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.60 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.10 EPS. Research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s payout ratio is 73.91%.

About WEC Energy Group

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.