Sentry Investment Management LLC Cuts Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Sentry Investment Management LLC cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,181 shares of the utilities provider’s stock after selling 192 shares during the quarter. Sentry Investment Management LLC’s holdings in WEC Energy Group were worth $111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Coastline Trust Co purchased a new position in WEC Energy Group during the third quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in WEC Energy Group in the third quarter worth about $45,000. Human Investing LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $52,000. Bank of Jackson Hole Trust bought a new stake in WEC Energy Group in the fourth quarter worth about $59,000. Finally, Kestra Investment Management LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $61,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Stock Performance

NYSE WEC opened at $105.50 on Thursday. The company’s 50 day moving average is $98.44 and its 200-day moving average is $96.75. WEC Energy Group, Inc. has a 12-month low of $76.50 and a 12-month high of $106.75. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a market cap of $33.38 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49.

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 firm 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 revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.10 EPS. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 73.91%.

Analyst Ratings Changes

WEC has been the topic of several research reports. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America raised shares of 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 research report on Thursday, December 12th. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, KeyCorp lifted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One equities 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $101.88.

Insider Buying and Selling

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the sale, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.44% of the stock is currently owned by insiders.

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.