New Mexico Educational Retirement Board Reduces Position in WEC Energy Group Inc (WEC)

New Mexico Educational Retirement Board trimmed its position in shares of WEC Energy Group Inc (NYSE:WEC) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,303 shares of the utilities provider’s stock after selling 600 shares during the quarter. New Mexico Educational Retirement Board’s holdings in WEC Energy Group were worth $2,080,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WEC. Pennsylvania Trust Co boosted its stake in WEC Energy Group by 91.0% in the 1st quarter. Pennsylvania Trust Co now owns 11,575 shares of the utilities provider’s stock worth $2,995,000 after purchasing an additional 5,516 shares during the period. Retirement Systems of Alabama boosted its stake in WEC Energy Group by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 519,190 shares of the utilities provider’s stock worth $41,058,000 after purchasing an additional 1,379 shares during the period. Virtu Financial LLC boosted its stake in WEC Energy Group by 4.1% in the 1st quarter. Virtu Financial LLC now owns 5,647 shares of the utilities provider’s stock worth $447,000 after purchasing an additional 223 shares during the period. Shorepoint Capital Partners LLC bought a new position in WEC Energy Group in the 1st quarter worth about $356,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in WEC Energy Group in the 1st quarter worth about $662,000. 74.95% of the stock is currently owned by institutional investors.

Shares of WEC stock traded up $1.74 during trading hours on Friday, reaching $79.21. The company’s stock had a trading volume of 1,281,137 shares, compared to its average volume of 1,707,068. The firm has a market cap of $24.99 billion, a P/E ratio of 23.72, a P/E/G ratio of 5.04 and a beta of 0.16. WEC Energy Group Inc has a one year low of $58.48 and a one 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 issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.41 billion. WEC Energy Group had a return on equity of 10.87% and a net margin of 13.81%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. As a group, equities analysts predict that WEC Energy Group Inc will post 3.52 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be given 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 2.98%. WEC Energy Group’s dividend payout ratio is presently 70.66%.

In related news, Director Barbara L. Bowles sold 2,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $78.35, for a total transaction of $156,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP William J. Guc sold 4,481 shares of WEC Energy Group stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $78.10, for a total value of $349,966.10. The disclosure for this sale can be found here. Insiders have sold 463,149 shares of company stock worth $34,836,874 over the last 90 days. 0.75% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on WEC shares. Zacks Investment Research downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Wells Fargo & Co lifted their price target on WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. Scotiabank downgraded WEC Energy Group from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $76.00 to $78.00 in a research report on Wednesday. Credit Suisse Group raised their price objective on WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. Finally, Argus raised their price objective on WEC Energy Group to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $74.33.

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WEC Energy Group Company Profile

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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