WEC Energy Group Inc (WEC) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in shares of WEC Energy Group Inc (NYSE:WEC) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 534,871 shares of the utilities provider’s stock after selling 48,115 shares during the quarter. California State Teachers Retirement System owned about 0.17% of WEC Energy Group worth $33,579,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WEC. Wells Fargo & Company MN boosted its stake in WEC Energy Group by 36.6% during the 3rd quarter. Wells Fargo & Company MN now owns 7,366,777 shares of the utilities provider’s stock worth $462,486,000 after acquiring an additional 1,972,929 shares during the last quarter. Principal Financial Group Inc. boosted its stake in WEC Energy Group by 362.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after acquiring an additional 1,719,955 shares during the last quarter. Janus Henderson Group PLC boosted its stake in WEC Energy Group by 2,687.2% during the 2nd quarter. Janus Henderson Group PLC now owns 1,200,291 shares of the utilities provider’s stock worth $73,674,000 after acquiring an additional 1,157,227 shares during the last quarter. Vanguard Group Inc. lifted its stake in WEC Energy Group by 2.5% in the second quarter. Vanguard Group Inc. now owns 32,962,447 shares of the utilities provider’s stock valued at $2,023,235,000 after buying an additional 795,189 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in WEC Energy Group by 28.9% in the third quarter. Ameriprise Financial Inc. now owns 2,849,244 shares of the utilities provider’s stock valued at $178,873,000 after buying an additional 638,010 shares in the last quarter. 72.60% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Inc (NYSE WEC) opened at $68.17 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.60 and a debt-to-equity ratio of 0.96. WEC Energy Group Inc has a one year low of $56.05 and a one year high of $70.09. The firm has a market cap of $21,512.81, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 4.05 and a beta of 0.15.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. WEC Energy Group had a net margin of 12.79% and a return on equity of 10.62%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. equities research analysts expect that WEC Energy Group Inc will post 3.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 14th will be issued a $0.5525 dividend. The ex-dividend date is Tuesday, February 13th. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.52. This represents a $2.21 dividend on an annualized basis and a dividend yield of 3.24%. WEC Energy Group’s dividend payout ratio (DPR) is 68.42%.

In other news, Chairman Gale E. Klappa sold 52,722 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $69.40, for a total value of $3,658,906.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott J. Lauber sold 1,240 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $70.00, for a total transaction of $86,800.00. The disclosure for this sale can be found here. 0.97% of the stock is owned by company insiders.

A number of research analysts have weighed in on WEC shares. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Bank of America lifted their price target on shares of WEC Energy Group from $69.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, November 15th. KeyCorp reaffirmed a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Credit Suisse Group started coverage on shares of WEC Energy Group in a research note on Thursday, December 7th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, BidaskClub raised shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.00.

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WEC Energy Group Company Profile

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

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

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