Concurrent Investment Advisors LLC Raises Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Concurrent Investment Advisors LLC increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 5.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,275 shares of the utilities provider’s stock after acquiring an additional 1,097 shares during the period. Concurrent Investment Advisors LLC’s holdings in WEC Energy Group were worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Wealth Alliance grew its position in WEC Energy Group by 0.8% during the 4th quarter. Wealth Alliance now owns 14,090 shares of the utilities provider’s stock worth $1,325,000 after purchasing an additional 110 shares during the period. Global Retirement Partners LLC grew its position in WEC Energy Group by 3.4% during the 4th quarter. Global Retirement Partners LLC now owns 21,414 shares of the utilities provider’s stock worth $2,014,000 after purchasing an additional 709 shares during the period. Bank of Jackson Hole Trust acquired a new stake in WEC Energy Group during the 4th quarter worth about $59,000. Mcdonald Partners LLC grew its position in WEC Energy Group by 5.8% during the 4th quarter. Mcdonald Partners LLC now owns 8,657 shares of the utilities provider’s stock worth $814,000 after purchasing an additional 475 shares during the period. Finally, BKM Wealth Management LLC grew its position in WEC Energy Group by 6.0% during the 4th quarter. BKM Wealth Management LLC now owns 19,180 shares of the utilities provider’s stock worth $1,804,000 after purchasing an additional 1,091 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on WEC. 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 raised their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets lifted their price objective 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. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, KeyCorp lifted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One 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, WEC Energy Group has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Trading Up 0.5 %

WEC opened at $104.04 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The company’s 50 day simple moving average is $97.76 and its two-hundred day simple moving average is $96.33. 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 capitalization of $32.91 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’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. Analysts expect that WEC Energy Group, Inc. will post 5.23 EPS 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 given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s payout ratio is presently 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.