Bank of Jackson Hole Trust Invests $59,000 in WEC Energy Group, Inc. (NYSE:WEC)

Bank of Jackson Hole Trust acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 632 shares of the utilities provider’s stock, valued at approximately $59,000.

Several other institutional investors have also recently modified their holdings of the company. Marshall Financial Group LLC raised its stake in shares of 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 worth $207,000 after purchasing an additional 100 shares during the last quarter. Tsfg LLC raised its stake 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 purchasing an additional 119 shares during the last quarter. Concord Wealth Partners raised its stake in shares of WEC Energy Group by 20.7% in the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 133 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in shares of WEC Energy Group by 1.3% in the third quarter. TrinityPoint Wealth LLC now owns 10,755 shares of the utilities provider’s stock worth $1,034,000 after purchasing an additional 134 shares during the last quarter. Finally, Synovus Financial Corp raised its stake in shares of WEC Energy Group by 4.7% in the third 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 last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Up 0.4 %

Shares of WEC opened at $103.54 on Thursday. 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, Inc. has a 12 month low of $76.50 and a 12 month high of $104.15. The stock’s 50 day moving average is $97.44 and its two-hundred day moving average is $96.17. The firm has a market cap of $32.75 billion, a P/E ratio of 21.44, a PEG ratio of 2.59 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last issued 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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 dividend yield of 3.23%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio is presently 73.91%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. BMO Capital Markets lifted their price target on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” 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 report on Thursday, February 6th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Scotiabank lifted their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. One equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.88.

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.