WEC Energy Group, Inc. (NYSE:WEC) Position Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 426,190 shares of the utilities provider's stock after selling 4,261 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of WEC Energy Group worth $46,446,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its stake in shares of WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 268 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in WEC Energy Group during the 1st quarter valued at about $32,000. Prudent Man Investment Management Inc. bought a new stake in shares of WEC Energy Group during the 4th quarter worth about $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $42,000. Finally, Stephens Consulting LLC lifted its stake in shares of WEC Energy Group by 138.6% in the 1st quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock worth $59,000 after acquiring an additional 316 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insider Activity at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction dated 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 now owns 2,686 shares of the company's stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WEC shares. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their target price for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Barclays lifted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, WEC Energy Group has a consensus rating of "Hold" and a consensus price target of $107.13.

WEC Energy Group Stock Down 0.4%

Shares of WEC opened at $103.72 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50. The company has a 50-day simple moving average of $106.80 and a 200-day simple moving average of $102.90. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. The firm has a market capitalization of $33.10 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.85 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. The firm 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%. The business's revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.97 earnings per share. On average, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

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

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