WEC Energy Group Inc (WEC) Holdings Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in WEC Energy Group Inc (NYSE:WEC) by 139.0% during the 4th quarter, Holdings Channel reports. The firm owned 296,249 shares of the utilities provider’s stock after acquiring an additional 172,278 shares during the period. Teacher Retirement System of Texas’ holdings in WEC Energy Group were worth $19,680,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Cable Hill Partners LLC increased its stake in WEC Energy Group by 3,307.8% in the third quarter. Cable Hill Partners LLC now owns 1,738 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,687 shares during the last quarter. Hanson & Doremus Investment Management purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $133,000. BB&T Investment Services Inc. purchased a new position in WEC Energy Group in the second quarter valued at approximately $150,000. Calton & Associates Inc. purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $175,000. Finally, Kempner Capital Management Inc. purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $206,000. Institutional investors own 73.13% of the company’s stock.

WEC Energy Group Inc (NYSE WEC) opened at $61.10 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.43 and a debt-to-equity ratio of 0.92. The stock has a market cap of $18,776.69, a P/E ratio of 18.95, a PEG ratio of 4.27 and a beta of 0.05. WEC Energy Group Inc has a 1 year low of $56.63 and a 1 year high of $70.09.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. research analysts predict that WEC Energy Group Inc will post 3.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.5525 per share. The ex-dividend date is Tuesday, February 13th. This is a positive change 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 3.62%. WEC Energy Group’s dividend payout ratio (DPR) is 54.88%.

In other news, VP Scott J. Lauber sold 1,240 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gale E. Klappa sold 52,722 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $69.40, for a total value of $3,658,906.80. The disclosure for this sale can be found here. Company insiders own 0.97% of the company’s stock.

Several equities analysts have commented on the stock. Credit Suisse Group assumed 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. UBS Group assumed coverage on shares of WEC Energy Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $65.00 price target on the stock. Zacks Investment Research upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Saturday, January 6th. Wells Fargo & Co dropped their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a research note on Thursday, February 1st. Finally, Bank of America assumed coverage on shares of WEC Energy Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $67.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.40.

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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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