WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Kowal Investment Group LLC

Kowal Investment Group LLC cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,045 shares of the utilities provider’s stock after selling 220 shares during the quarter. WEC Energy Group makes up approximately 0.7% of Kowal Investment Group LLC’s portfolio, making the stock its 21st biggest position. Kowal Investment Group LLC’s holdings in WEC Energy Group were worth $3,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Bank & Trust Co purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter worth approximately $25,000. Tennessee Valley Asset Management Partners purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $26,000. Valued Wealth Advisors LLC purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $28,000. Finally, First United Bank & Trust purchased a new stake in WEC Energy Group during the fourth quarter worth approximately $30,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank reduced their price objective on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group assumed coverage on WEC Energy Group in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective for the company. KeyCorp boosted their price objective on WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, BMO Capital Markets boosted their target price on WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.92.

WEC Energy Group Price Performance

WEC stock traded down $0.58 on Monday, reaching $77.88. 689,003 shares of the company’s stock were exchanged, compared to its average volume of 2,146,037. The stock has a fifty day moving average of $81.42 and a 200-day moving average of $81.03. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $93.37. The firm has a market cap of $24.60 billion, a PE ratio of 17.04, a P/E/G ratio of 2.03 and a beta of 0.42. The company has a quick ratio of 0.42, a current ratio of 0.55 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.07. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share. WEC Energy Group’s revenue was down 7.2% compared to the same quarter last year. As a group, equities analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were given a $0.835 dividend. The ex-dividend date was Monday, May 13th. This represents a $3.34 annualized dividend and a dividend yield of 4.29%. WEC Energy Group’s dividend payout ratio is currently 72.93%.

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.