WEC Energy Group, Inc. $WEC Stock: Retirement Systems of Alabama Trims Stake

Retirement Systems of Alabama trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 415,472 shares of the utilities provider’s stock after selling 4,718 shares during the quarter. Retirement Systems of Alabama’s holdings in WEC Energy Group were worth $41,871,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Annex Advisory Services LLC increased its stake in WEC Energy Group by 8.6% during the second quarter. Annex Advisory Services LLC now owns 121,431 shares of the utilities provider’s stock worth $14,179,000 after acquiring an additional 9,591 shares during the last quarter. DAVENPORT & Co LLC raised its position in WEC Energy Group by 15.3% during the second quarter. DAVENPORT & Co LLC now owns 96,430 shares of the utilities provider’s stock valued at $11,260,000 after purchasing an additional 12,773 shares during the period. GSA Capital Partners LLP purchased a new stake in WEC Energy Group during the second quarter valued at approximately $2,783,000. Y Intercept Hong Kong Ltd bought a new stake in shares of WEC Energy Group in the 2nd quarter valued at approximately $3,773,000. Finally, Hsbc Holdings PLC lifted its stake in shares of WEC Energy Group by 16.9% in the 2nd quarter. Hsbc Holdings PLC now owns 617,881 shares of the utilities provider’s stock valued at $72,303,000 after purchasing an additional 89,140 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $116.93 on Wednesday. The company has a market capitalization of $38.47 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.41 and a beta of 0.43. WEC Energy Group, Inc. has a 12 month low of $99.80 and a 12 month high of $120.15. The firm’s 50-day moving average is $107.29 and its 200 day moving average is $111.74. The company has a current ratio of 0.53, a quick ratio of 0.36 and a debt-to-equity ratio of 1.34.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.27 billion. WEC Energy Group had a net margin of 17.54% and a return on equity of 13.49%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 EPS. Research analysts predict that WEC Energy Group, Inc. will post 5.61 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a dividend of $0.9525 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. WEC Energy Group’s dividend payout ratio is currently 69.15%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WEC. Scotiabank lifted their target price on WEC Energy Group from $117.00 to $128.00 and gave the stock a “sector outperform” rating in a report on Friday, October 30th. Weiss Ratings upgraded WEC Energy Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. The Goldman Sachs Group decreased their price target on WEC Energy Group from $110.00 to $107.00 in a report on Thursday, October 15th. Royal Bank Of Canada lowered their price target on WEC Energy Group from $124.00 to $122.00 and set a “sector perform” rating for the company in a research report on Monday, October 26th. Finally, HSBC assumed coverage on shares of WEC Energy Group in a research note on Thursday, October 22nd. They set a “hold” rating and a $106.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $117.88.

WEC Energy Group Company Profile

WEC Energy Group is a regulated energy holding company based in Milwaukee, Wisconsin. Through its subsidiaries, it generates, transmits and distributes electricity and provides natural gas service to residential, commercial and industrial customers. The company’s utility operations serve communities across Wisconsin, Illinois, Michigan and Minnesota. Its businesses include electric and gas utilities, as well as natural gas storage and related energy services. WEC Energy Group adopted its current name in 2015, following the combination of Wisconsin Energy Corporation and Integrys Energy Group.