WEC Energy Group Inc (WEC) Stake Increased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its holdings in WEC Energy Group Inc (NYSE:WEC) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,548 shares of the utilities provider’s stock after buying an additional 1,955 shares during the period. Public Employees Retirement System of Ohio’s holdings in WEC Energy Group were worth $10,773,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WEC. Oregon Public Employees Retirement Fund boosted its position in shares of WEC Energy Group by 6,740.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,359,757 shares of the utilities provider’s stock worth $34,000 after buying an additional 2,325,262 shares in the last quarter. BlackRock Inc. boosted its position in shares of WEC Energy Group by 5.7% in the 4th quarter. BlackRock Inc. now owns 29,050,912 shares of the utilities provider’s stock worth $2,012,066,000 after buying an additional 1,563,355 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of WEC Energy Group by 17.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,999,731 shares of the utilities provider’s stock worth $600,825,000 after buying an additional 1,336,719 shares in the last quarter. Scout Investments Inc. purchased a new position in WEC Energy Group in the 4th quarter valued at about $67,361,000. Finally, Renaissance Technologies LLC lifted its holdings in WEC Energy Group by 24.2% in the 3rd quarter. Renaissance Technologies LLC now owns 3,873,402 shares of the utilities provider’s stock valued at $258,588,000 after purchasing an additional 753,600 shares in the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.

A number of research analysts have issued reports on WEC shares. Argus upped their target price on shares of WEC Energy Group to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Credit Suisse Group upped their target price on shares of WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Wells Fargo & Co upped their target price on shares of WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, February 13th. Finally, Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their target price for the company from $71.00 to $70.00 in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $73.70.

In related news, CFO Scott J. Lauber sold 3,650 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $76.26, for a total transaction of $278,349.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles R. Matthews sold 40,295 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $74.77, for a total transaction of $3,012,857.15. Following the sale, the chief executive officer now directly owns 26,584 shares of the company’s stock, valued at approximately $1,987,685.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 456,668 shares of company stock worth $34,330,208. Insiders own 0.75% of the company’s stock.

Shares of WEC stock opened at $76.29 on Monday. The stock has a market cap of $24.07 billion, a PE ratio of 22.84, a P/E/G ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a 1-year low of $58.48 and a 1-year high of $80.05. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 0.67.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 12th. The utilities provider reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.96 billion. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 3.09%. WEC Energy Group’s payout ratio is currently 70.66%.

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About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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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