State of Michigan Retirement System Has $9.04 Million Stake in WEC Energy Group, Inc. $WEC

State of Michigan Retirement System grew its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 0.7% in the 2nd quarter, Holdings Channel reports. The fund owned 86,784 shares of the utilities provider’s stock after purchasing an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in WEC Energy Group were worth $9,043,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Horizon Investment Services LLC acquired a new position in WEC Energy Group during the first quarter valued at approximately $379,000. Los Angeles Capital Management LLC boosted its position in WEC Energy Group by 2,964.9% during the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider’s stock valued at $11,841,000 after purchasing an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in WEC Energy Group during the first quarter valued at approximately $10,333,000. OLD Republic International Corp boosted its position in WEC Energy Group by 1.2% during the first quarter. OLD Republic International Corp now owns 336,279 shares of the utilities provider’s stock valued at $36,648,000 after purchasing an additional 3,948 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in WEC Energy Group by 5.4% during the first quarter. Stratos Wealth Partners LTD. now owns 98,796 shares of the utilities provider’s stock valued at $10,767,000 after purchasing an additional 5,049 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Activity at WEC Energy Group

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

WEC Energy Group Stock Performance

NYSE:WEC opened at $110.62 on Tuesday. The stock has a market cap of $35.61 billion, a P/E ratio of 20.91, a PEG ratio of 3.15 and a beta of 0.48. The stock has a 50 day simple moving average of $111.99 and a 200 day simple moving average of $108.70. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $118.18.

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. The business had revenue of $2.28 billion during the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. 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 company also recently declared 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 yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.49%.

Analyst Ratings Changes

WEC has been the subject of several recent research reports. BTIG Research raised WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday. Mizuho set a $125.00 price target on WEC Energy Group in a research report on Monday, October 27th. UBS Group raised their price objective on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, KeyCorp raised their price objective on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Two 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 assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.