Turning Point Benefit Group Inc. Takes $244,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

Turning Point Benefit Group Inc. purchased a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,595 shares of the utilities provider’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coastline Trust Co acquired a new stake in shares of WEC Energy Group in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of WEC Energy Group in the third quarter valued at approximately $45,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $52,000. Bank of Jackson Hole Trust acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $59,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $61,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WEC has been the subject of a number of analyst reports. Scotiabank lifted their price target on shares of 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. Barclays raised 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. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets lifted their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Stock Performance

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

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share 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 the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 EPS. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal 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 dividend of $0.835 per share. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.21%. WEC Energy Group’s payout ratio is presently 73.91%.

WEC Energy Group Company 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.