Trust Co. of Vermont Cuts Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Trust Co. of Vermont lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 33.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 434 shares of the utilities provider’s stock after selling 220 shares during the quarter. Trust Co. of Vermont’s holdings in WEC Energy Group were worth $37,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC purchased a new stake in WEC Energy Group in the 4th quarter worth $737,000. Wellington Management Group LLP purchased a new stake in shares of WEC Energy Group during the fourth quarter worth $2,639,000. Richardson Financial Services Inc. purchased a new stake in shares of WEC Energy Group during the fourth quarter worth $99,000. Fortis Group Advisors LLC grew its holdings in shares of WEC Energy Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 7,610 shares of the utilities provider’s stock worth $641,000 after buying an additional 3,805 shares in the last quarter. Finally, Northwest Bank & Trust Co purchased a new stake in shares of WEC Energy Group during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Down 0.4 %

NYSE WEC opened at $78.05 on Wednesday. The firm’s 50-day moving average is $81.58 and its two-hundred day moving average is $81.38. WEC Energy Group, Inc. has a 12 month low of $75.13 and a 12 month high of $93.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.55 and a quick ratio of 0.42. The stock has a market capitalization of $24.65 billion, a P/E ratio of 17.04, a PEG ratio of 2.03 and a beta of 0.42.

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

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders 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 dividend on an annualized basis and a yield of 4.28%. WEC Energy Group’s payout ratio is currently 72.93%.

Analysts Set New Price Targets

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

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.