WEC Energy Group, Inc. $WEC Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 420,243 shares of the utilities provider’s stock after selling 5,947 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of WEC Energy Group worth $43,789,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Truvestments Capital LLC bought a new stake in shares of WEC Energy Group in the first quarter worth $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group during the 1st quarter valued at $26,000. Bayforest Capital Ltd acquired a new position in WEC Energy Group during the 2nd quarter worth $26,000. Hughes Financial Services LLC bought a new stake in shares of WEC Energy Group in the 1st quarter worth about $28,000. Finally, WPG Advisers LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter valued at about $35,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WEC has been the subject of a number of research reports. Royal Bank Of Canada set a $131.00 price target on WEC Energy Group in a research note on Monday. Mizuho set a $125.00 target price on WEC Energy Group in a research report on Monday. KeyCorp upped their price target 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. Barclays lifted their price objective on shares of WEC Energy Group from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, BMO Capital Markets boosted their target price on shares of WEC Energy Group from $114.00 to $120.00 and gave the company a “market perform” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

WEC Energy Group Stock Performance

Shares of WEC opened at $112.52 on Friday. The firm has a fifty day moving average of $111.85 and a 200-day moving average of $108.65. The company has a market cap of $36.22 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 3.23 and a beta of 0.47. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. 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 issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The firm 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%. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. WEC Energy Group’s dividend payout ratio is 68.39%.

Insiders Place Their Bets

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,620 shares of the business’s stock in a transaction 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 owned 20,360 shares in the company, valued at approximately $2,259,960. The trade was a 7.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott J. Lauber sold 9,231 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer directly owned 56,443 shares in the company, valued at $6,258,399.84. This trade represents a 14.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 22,741 shares of company stock valued at $2,523,854. 0.50% of the stock is owned by corporate insiders.

About WEC Energy Group

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.