Teacher Retirement System of Texas Grows Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Teacher Retirement System of Texas boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1,462.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,247 shares of the utilities provider's stock after buying an additional 43,288 shares during the quarter. Teacher Retirement System of Texas' holdings in WEC Energy Group were worth $5,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WEC. Wellington Management Group LLP lifted its holdings in WEC Energy Group by 134.2% during the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after buying an additional 6,329,574 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of WEC Energy Group by 12,777.6% in the 1st quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock valued at $199,872,000 after purchasing an additional 1,819,782 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of WEC Energy Group by 3,815.2% in the 4th quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider's stock valued at $138,342,000 after purchasing an additional 1,433,522 shares in the last quarter. Talaria Asset Management Pty Ltd bought a new stake in shares of WEC Energy Group in the 4th quarter valued at about $53,970,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of WEC Energy Group by 15.4% in the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock valued at $370,128,000 after purchasing an additional 526,014 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on WEC. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a report on Sunday, June 29th. Barclays boosted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Finally, Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $106.33.

WEC Energy Group Stock Down 0.6%

Shares of NYSE WEC traded down $0.62 during trading hours on Tuesday, hitting $103.69. 2,100,088 shares of the stock were exchanged, compared to its average volume of 2,257,833. The company has a market cap of $33.09 billion, a PE ratio of 20.21, a PEG ratio of 2.86 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average price of $105.85 and a 200-day moving average price of $103.69.

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 for the quarter, topping the consensus estimate of $2.18 by $0.09. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. WEC Energy Group's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.97 EPS. On average, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Wednesday, May 14th. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's payout ratio is currently 69.59%.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the business'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 transaction of $232,244.35. Following the sale, the vice president owned 2,686 shares of the company's stock, valued at approximately $289,470.22. The trade was a 44.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company's stock.

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.