WEC Energy Group, Inc. $WEC Stock Holdings Lessened by Strs Ohio

Strs Ohio reduced its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 17.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 277,060 shares of the utilities provider’s stock after selling 57,057 shares during the quarter. Strs Ohio’s holdings in WEC Energy Group were worth $28,870,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WEC. Golden State Wealth Management LLC lifted its position in WEC Energy Group by 252.6% in the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in WEC Energy Group by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,305 shares of the utilities provider’s stock valued at $3,582,000 after purchasing an additional 5,191 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in WEC Energy Group by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 145,813 shares of the utilities provider’s stock valued at $15,878,000 after purchasing an additional 2,992 shares during the last quarter. KBC Group NV lifted its position in WEC Energy Group by 4.7% in the 1st quarter. KBC Group NV now owns 26,331 shares of the utilities provider’s stock valued at $2,870,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Mather Group LLC. lifted its position in WEC Energy Group by 55.6% in the 1st quarter. Mather Group LLC. now owns 1,663 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 594 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research report on Tuesday, October 21st. Barclays lifted 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 research report on Tuesday, October 21st. Wall Street Zen raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Wells Fargo & Company assumed coverage on shares of WEC Energy Group in a research report on Monday. They set an “overweight” rating and a $124.00 price target on the stock. Finally, Scotiabank boosted their price target on shares of WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.14.

WEC Energy Group Stock Performance

Shares of WEC opened at $112.52 on Friday. The firm’s 50 day moving average is $111.85 and its 200-day moving average is $108.65. The stock has a market capitalization of $36.22 billion, a P/E ratio of 21.56, a P/E/G ratio of 3.23 and a beta of 0.47. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a 12-month low of $91.94 and a 12-month 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 earnings per share (EPS) for the quarter. The company 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%. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

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

Insider Activity

In other news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares of the company’s stock, valued at $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction 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. This trade represents a 7.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,741 shares of company stock valued at $2,523,854. 0.50% of the stock is currently owned by insiders.

WEC Energy Group 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.