New York State Teachers Retirement System Sells 11,184 Shares of WEC Energy Group, Inc. (NYSE:WEC)

New York State Teachers Retirement System lowered its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,568 shares of the utilities provider’s stock after selling 11,184 shares during the quarter. New York State Teachers Retirement System owned 0.08% of WEC Energy Group worth $23,469,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Coastline Trust Co bought a new position in shares of WEC Energy Group in the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC purchased a new stake in WEC Energy Group during the third quarter valued at approximately $45,000. Friedenthal Financial purchased a new stake in WEC Energy Group during the third quarter valued at approximately $50,000. Robbins Farley bought a new stake in shares of WEC Energy Group in the 4th quarter valued at approximately $64,000. Finally, Concord Wealth Partners boosted its holdings in shares of WEC Energy Group by 20.7% in the 3rd quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 133 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now owns 273,248 shares in the company, valued at $27,204,570.88. This represents a 12.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the sale, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,794 shares of company stock valued at $4,866,579. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WEC shares. Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. KeyCorp boosted their target price on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets raised their price target on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.88.

WEC Energy Group Stock Down 0.7 %

Shares of NYSE:WEC opened at $103.10 on Friday. The business’s 50 day moving average is $97.05 and its 200 day moving average is $95.79. The stock has a market cap of $32.62 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49. WEC Energy Group, Inc. has a 52-week low of $76.50 and a 52-week high of $104.01. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Sell-side 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 declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.24%. WEC Energy Group’s dividend payout ratio is currently 73.91%.

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.