Turning Point Benefit Group Inc. Makes New $244,000 Investment in WEC Energy Group, Inc. (NYSE:WEC)

Turning Point Benefit Group Inc. bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,595 shares of the utilities provider’s stock, valued at approximately $244,000.

A number of other large investors have also recently added to or reduced their stakes in WEC. Mizuho Securities USA LLC increased its holdings in WEC Energy Group by 106,685.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after acquiring an additional 4,691,017 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after acquiring an additional 1,912,223 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after acquiring an additional 699,177 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of WEC Energy Group by 57.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after acquiring an additional 695,317 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Trading Up 0.5 %

Shares of NYSE:WEC opened at $104.04 on Friday. The company has a 50-day simple moving average of $97.76 and a 200 day simple moving average of $96.33. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a market capitalization of $32.91 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $104.98.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $1.10 earnings per share. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.34 annualized dividend and a yield of 3.21%. WEC Energy Group’s dividend payout ratio (DPR) is presently 73.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WEC shares. KeyCorp raised their price objective on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Finally, Wells Fargo & Company raised their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.88.

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.