WEC Energy Group, Inc. (NYSE:WEC) Holdings Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 13.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,752 shares of the utilities provider’s stock after selling 40,928 shares during the period. New York State Teachers Retirement System’s holdings in WEC Energy Group were worth $25,079,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Diversified Trust Co raised its position in WEC Energy Group by 2.7% during the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock valued at $419,000 after buying an additional 134 shares during the period. State of Alaska Department of Revenue raised its position in WEC Energy Group by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 34,210 shares of the utilities provider’s stock valued at $2,809,000 after buying an additional 145 shares during the period. Ashton Thomas Private Wealth LLC raised its position in WEC Energy Group by 9.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 26,278 shares of the utilities provider’s stock valued at $2,158,000 after buying an additional 2,185 shares during the period. Van ECK Associates Corp raised its position in WEC Energy Group by 39.3% during the first quarter. Van ECK Associates Corp now owns 106,126 shares of the utilities provider’s stock valued at $8,715,000 after buying an additional 29,928 shares during the period. Finally, Norden Group LLC acquired a new position in WEC Energy Group during the first quarter valued at $474,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WEC Energy Group

In other news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares in the company, valued at approximately $716,208.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP William J. Guc sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Anthony Reese sold 1,362 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on WEC. KeyCorp upped their price target on WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Bank of America upped their price target on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Scotiabank upped their price target on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Jefferies Financial Group started coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and an average price target of $94.45.

WEC Energy Group Stock Performance

WEC opened at $95.48 on Friday. The company has a market cap of $30.18 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. The stock has a 50-day moving average of $95.49 and a 200-day moving average of $87.07. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, equities research analysts forecast that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.50%. WEC Energy Group’s dividend payout ratio (DPR) is presently 77.14%.

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.