VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in WEC Energy Group, Inc. $WEC

Key Points

• The Virginia Retirement Systems acquired a new stake of 11,700 shares in WEC Energy Group, valued at approximately $1.22 million, during the second quarter.
• WEC Energy Group announced a quarterly dividend of $0.8925 per share, with a 3.1% dividend yield, to be paid on December 1st.
• According to recent analyst reports, WEC Energy Group has received an average rating of "Hold", with a consensus price target of $118.83.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,700 shares of the utilities provider's stock, valued at approximately $1,219,000.

Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in WEC Energy Group during the first quarter valued at about $25,000. Nova Wealth Management Inc. bought a new stake in WEC Energy Group during the first quarter valued at about $26,000. Bayforest Capital Ltd bought a new stake in WEC Energy Group during the second quarter valued at about $26,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group during the first quarter valued at about $28,000. Finally, WPG Advisers LLC bought a new stake in WEC Energy Group during the first quarter valued at about $35,000. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $115.93 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $118.18. The company has a market cap of $37.31 billion, a PE ratio of 22.21, a P/E/G ratio of 3.31 and a beta of 0.47. The business has a 50-day simple moving average of $111.15 and a two-hundred day simple moving average of $108.26.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.28 billion during the quarter. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.8925 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.1%. WEC Energy Group's payout ratio is 68.39%.

Insider Activity

In related news, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total transaction of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares of the company's stock, valued at $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $111.00, for a total value of $179,820.00. Following the sale, the director directly owned 20,360 shares of the company's stock, valued at $2,259,960. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent research reports. KeyCorp raised their price objective on WEC Energy Group from $110.00 to $123.00 and gave the company an "overweight" rating in a research report on Wednesday, October 15th. Cowen initiated coverage on WEC Energy Group in a research report on Wednesday, October 15th. They set a "hold" rating on the stock. Barclays raised their price objective on WEC Energy Group from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Tuesday. TD Cowen began coverage on WEC Energy Group in a report on Thursday, October 16th. They issued a "hold" rating and a $125.00 price target for the company. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of WEC Energy Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $118.83.

About WEC Energy Group

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.

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