Teachers Retirement System of The State of Kentucky Decreases Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Teachers Retirement System of The State of Kentucky lowered its stake in WEC Energy Group, Inc. (NYSE:WECGet Rating) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,278 shares of the utilities provider’s stock after selling 969 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in WEC Energy Group were worth $2,224,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Bank of America Corp DE lifted its stake in WEC Energy Group by 2.3% in the 1st quarter. Bank of America Corp DE now owns 5,636,213 shares of the utilities provider’s stock worth $562,551,000 after purchasing an additional 128,313 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of WEC Energy Group by 3.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 3,224 shares of the utilities provider’s stock valued at $322,000 after buying an additional 122 shares in the last quarter. Verition Fund Management LLC raised its position in shares of WEC Energy Group by 316.5% during the 1st quarter. Verition Fund Management LLC now owns 9,042 shares of the utilities provider’s stock valued at $902,000 after buying an additional 6,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of WEC Energy Group by 60.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,480 shares of the utilities provider’s stock valued at $8,631,000 after buying an additional 32,489 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in shares of WEC Energy Group by 4.4% during the 1st quarter. Kestra Private Wealth Services LLC now owns 23,508 shares of the utilities provider’s stock valued at $2,346,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 75.03% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC stock opened at $100.96 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.69 and a quick ratio of 0.54. The company has a market capitalization of $31.85 billion, a P/E ratio of 23.32, a P/E/G ratio of 3.83 and a beta of 0.28. The company’s 50-day simple moving average is $103.37 and its two-hundred day simple moving average is $101.24. WEC Energy Group, Inc. has a one year low of $86.84 and a one year high of $108.39.

WEC Energy Group (NYSE:WECGet Rating) last issued its earnings results on Tuesday, August 2nd. The utilities provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. WEC Energy Group had a net margin of 15.23% and a return on equity of 12.15%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.39 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a dividend of $0.7275 per share. The ex-dividend date was Thursday, August 11th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 2.88%. WEC Energy Group’s dividend payout ratio is presently 67.21%.

Insider Activity

In other news, EVP William Mastoris sold 4,690 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $105.04, for a total transaction of $492,637.60. Following the transaction, the executive vice president now directly owns 2,506 shares in the company, valued at $263,230.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

WEC has been the topic of several recent research reports. Barclays decreased their target price on shares of WEC Energy Group from $108.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Mizuho decreased their target price on shares of WEC Energy Group from $107.00 to $93.00 and set a “neutral” rating on the stock in a research report on Friday, June 17th. Credit Suisse Group downgraded shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and cut their price target for the company from $108.00 to $98.00 in a report on Wednesday, July 20th. Finally, Wells Fargo & Company upped their price target on shares of WEC Energy Group from $111.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and an average target price of $102.33.

WEC Energy Group Profile

(Get Rating)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

Further Reading

Want to see what other hedge funds are holding WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEC Energy Group, Inc. (NYSE:WECGet Rating).

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.