California Public Employees Retirement System Sells 27,847 Shares of WEC Energy Group, Inc. (NYSE:WEC)

California Public Employees Retirement System lowered its stake in WEC Energy Group, Inc. (NYSE:WECGet Rating) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,362,669 shares of the utilities provider’s stock after selling 27,847 shares during the quarter. California Public Employees Retirement System owned about 0.75% of WEC Energy Group worth $235,818,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lumature Wealth Partners LLC lifted its stake in WEC Energy Group by 66.3% in the 4th quarter. Lumature Wealth Partners LLC now owns 316 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 126 shares in the last quarter. Riverview Trust Co purchased a new stake in WEC Energy Group in the 1st quarter worth $34,000. Elmwood Wealth Management Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth $36,000. Maryland Capital Advisors Inc. purchased a new stake in WEC Energy Group in the 4th quarter worth $38,000. Finally, Credit Agricole S A purchased a new stake in WEC Energy Group in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $100.47 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.79 and a quick ratio of 0.67. WEC Energy Group, Inc. has a 1-year low of $86.84 and a 1-year high of $108.39. The firm has a market capitalization of $31.69 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 3.72 and a beta of 0.29. The company’s 50-day moving average is $99.94 and its 200 day moving average is $98.16.

WEC Energy Group (NYSE:WECGet Rating) last issued its earnings results on Monday, May 2nd. The utilities provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.83 billion. WEC Energy Group had a net margin of 15.90% and a return on equity of 12.17%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. Research analysts forecast that WEC Energy Group, Inc. will post 4.37 EPS for the current year.

WEC Energy Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be paid a $0.7275 dividend. The ex-dividend date is Thursday, August 11th. This represents a $2.91 dividend on an annualized basis and a yield of 2.90%. WEC Energy Group’s dividend payout ratio is currently 67.83%.

Insiders Place Their Bets

In other WEC Energy Group news, VP Anthony Reese sold 1,325 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $102.47, for a total value of $135,772.75. Following the transaction, the vice president now directly owns 905 shares in the company, valued at approximately $92,735.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other WEC Energy Group news, VP Anthony Reese sold 1,325 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $102.47, for a total value of $135,772.75. Following the transaction, the vice president now directly owns 905 shares in the company, valued at approximately $92,735.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 750 shares of the stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $105.21, for a total transaction of $78,907.50. Following the transaction, the director now owns 22,303 shares in the company, valued at $2,346,498.63. The disclosure for this sale can be found here. Insiders have sold 49,821 shares of company stock worth $5,189,283 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on WEC shares. StockNews.com initiated coverage on shares of WEC Energy Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. 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. Bank of America upgraded shares of WEC Energy Group from a “neutral” rating to a “buy” rating and set a $109.00 target price on the stock in a research report on Friday, May 13th. Credit Suisse Group cut shares of WEC Energy Group from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $108.00 to $98.00 in a research report on Wednesday, July 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $101.60.

WEC Energy Group Company Profile

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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.

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

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