WEC Energy Group, Inc. $WEC Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,524 shares of the utilities provider’s stock after buying an additional 740 shares during the period. Maryland State Retirement & Pension System’s holdings in WEC Energy Group were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WEC. Truvestments Capital LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter valued at approximately $25,000. Nova Wealth Management Inc. acquired a new stake in WEC Energy Group in the first quarter valued at $26,000. Hughes Financial Services LLC acquired a new stake in WEC Energy Group in the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the first quarter valued at $32,000. Finally, ORG Partners LLC boosted its position in shares of WEC Energy Group by 65.7% in the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider’s stock worth $34,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WEC. Citigroup started coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They set a “buy” rating and a $131.00 target price for the company. Wall Street Zen upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of WEC Energy Group in a research note on Wednesday. Scotiabank increased their price target on WEC Energy Group from $115.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, UBS Group increased their price target on WEC Energy Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $112.20.

WEC Energy Group Trading Up 1.0%

NYSE:WEC opened at $115.07 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The company has a market cap of $37.04 billion, a PE ratio of 22.04, a P/E/G ratio of 3.16 and a beta of 0.47. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $115.90. The business’s 50 day moving average is $109.95 and its two-hundred day moving average is $107.67.

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. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion for the quarter. On average, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, August 14th. WEC Energy Group’s dividend payout ratio is currently 68.39%.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, 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 value of $179,820.00. Following the completion of the transaction, the director directly owned 20,360 shares in the company, valued at $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the transaction, the executive vice president owned 5,829 shares of the company’s stock, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,448 shares of company stock worth $7,581,132. 0.50% of the stock is owned by company insiders.

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.