Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stake in WEC Energy Group, Inc. $WEC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 6.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 644,129 shares of the utilities provider’s stock after acquiring an additional 40,190 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.20% of WEC Energy Group worth $67,118,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WEC. Truvestments Capital LLC purchased a new position in WEC Energy Group in the first quarter worth about $25,000. Nova Wealth Management Inc. bought a new stake in shares of WEC Energy Group during the first quarter valued at approximately $26,000. Bayforest Capital Ltd purchased a new position in WEC Energy Group in the 2nd quarter worth approximately $26,000. NewSquare Capital LLC lifted its position in WEC Energy Group by 60.5% in the 2nd quarter. NewSquare Capital LLC now owns 305 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Finally, ORG Partners LLC lifted its position 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 in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $110.80 on Friday. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month high of $118.18. The firm has a market capitalization of $36.04 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.15 and a beta of 0.48. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average of $112.89 and a 200 day moving average of $108.92.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The business had revenue of $2.28 billion for the quarter. On average, research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s payout ratio is currently 67.49%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WEC shares. TD Cowen began coverage on WEC Energy Group in a research note on Thursday, October 16th. They issued a “hold” rating and a $125.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of WEC Energy Group in a report on Thursday. KeyCorp upped their target price on shares of WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. UBS Group raised their price target on shares of WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Barclays boosted their price objective on shares of WEC Energy Group from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.21.

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.