WEC Energy Group, Inc. $WEC Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 420,243 shares of the utilities provider’s stock after selling 5,947 shares during the quarter. Retirement Systems of Alabama’s holdings in WEC Energy Group were worth $43,789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group during the first quarter valued at about $26,000. Bayforest Capital Ltd acquired a new position in WEC Energy Group during the second quarter worth about $26,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group in the first quarter worth about $28,000. Finally, ORG Partners LLC lifted its holdings in WEC Energy Group by 65.7% in the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 130 shares during the last quarter. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on WEC. LADENBURG THALM/SH SH raised shares of WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. Weiss Ratings restated a “buy (b-)” rating on shares of WEC Energy Group in a research report on Wednesday, October 8th. Scotiabank upped their price target on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Wells Fargo & Company began coverage on WEC Energy Group in a research note on Monday. They set an “overweight” rating and a $124.00 price objective for the company. Finally, Mizuho set a $125.00 target price on WEC Energy Group in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.14.

WEC Energy Group Trading Down 1.8%

Shares of NYSE WEC opened at $112.52 on Friday. The business has a 50-day moving average price of $111.85 and a two-hundred day moving average price of $108.65. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $36.22 billion, a PE ratio of 21.56, a PEG ratio of 3.23 and a beta of 0.47. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $118.18.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The firm had revenue of $2.28 billion for the quarter. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. As a group, analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 68.39%.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 9,231 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,620 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the completion of the transaction, the director directly owned 20,360 shares in the company, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,741 shares of company stock worth $2,523,854 in the last ninety days. Company insiders own 0.50% of the company’s stock.

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.