New York State Teachers Retirement System Has $26.34 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

New York State Teachers Retirement System cut its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 241,716 shares of the utilities provider's stock after selling 7,852 shares during the period. New York State Teachers Retirement System owned about 0.08% of WEC Energy Group worth $26,342,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of WEC. Larson Financial Group LLC boosted its stake in WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 268 shares during the period. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group during the 4th quarter worth $28,000. Opal Wealth Advisors LLC acquired a new stake in WEC Energy Group in the first quarter worth $32,000. Golden State Wealth Management LLC lifted its stake in WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after buying an additional 245 shares during the last quarter. Finally, Hoey Investments Inc. acquired a new position in shares of WEC Energy Group during the fourth quarter valued at $42,000. Institutional investors own 77.20% of the company's stock.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president owned 2,686 shares in the company, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on WEC shares. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Barclays lifted their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an "outperform" rating in a report on Wednesday, May 7th. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and lowered their target price for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company boosted their price target on WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of "Hold" and a consensus target price of $106.33.

WEC Energy Group Price Performance

NYSE WEC traded up $0.75 on Friday, reaching $104.50. 1,033,837 shares of the stock traded hands, compared to its average volume of 2,150,206. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The company has a market cap of $33.35 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.85 and a beta of 0.44. The firm's fifty day simple moving average is $106.00 and its 200 day simple moving average is $103.41. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the previous year, the company earned $1.97 earnings per share. WEC Energy Group's revenue was up 17.5% compared to the same quarter last year. As a group, research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a $0.8975 dividend. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. This represents a $3.59 annualized dividend and a yield of 3.44%. WEC Energy Group's payout ratio is 69.59%.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.