Ontario Teachers Pension Plan Board Has $2.40 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Key Points

• Ontario Teachers Pension Plan Board reduced its stake in WEC Energy Group by 36.3% during the first quarter, leaving it with 22,046 shares valued at $2,403,000.
• The company recently reported $0.76 earnings per share for the last quarter, which was better than the consensus estimate of $0.71, alongside a revenue increase of 13.4% year-over-year.
• WEC Energy Group announced a quarterly dividend of $0.8925 per share, with a current annualized dividend yield of 3.2%.

Ontario Teachers Pension Plan Board lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 36.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,046 shares of the utilities provider's stock after selling 12,580 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in WEC Energy Group were worth $2,403,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WEC. Hughes Financial Services LLC bought a new position in WEC Energy Group during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in WEC Energy Group during the 1st quarter worth approximately $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 in the last quarter. Creekmur Asset Management LLC lifted its stake in WEC Energy Group by 2,420.0% in the first quarter. Creekmur Asset Management LLC now owns 378 shares of the utilities provider's stock valued at $41,000 after buying an additional 363 shares in the last quarter. Finally, Stephens Consulting LLC lifted its stake in WEC Energy Group by 138.6% in the first quarter. Stephens Consulting LLC now owns 544 shares of the utilities provider's stock valued at $59,000 after buying an additional 316 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $110.33, for a total transaction of $444,629.90. Following the completion of the transaction, the executive vice president owned 5,829 shares of the company's stock, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $111.14, for a total value of $659,060.20. Following the transaction, the executive vice president directly owned 6,606 shares of the company's stock, valued at approximately $734,190.84. The trade was a 47.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,752 shares of company stock valued at $6,610,023 over the last three months. 0.50% of the stock is owned by insiders.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded down $0.62 during trading on Monday, reaching $109.73. The company's stock had a trading volume of 1,132,986 shares, compared to its average volume of 2,216,812. The business's 50-day moving average price is $106.33 and its 200-day moving average price is $105.81. The firm has a market cap of $35.32 billion, a PE ratio of 21.02, a P/E/G ratio of 3.03 and a beta of 0.42. WEC Energy Group, Inc. has a 52 week low of $87.71 and a 52 week high of $111.90. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. WEC Energy Group's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.67 earnings per share. Equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 14th will be given a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's dividend payout ratio is currently 68.39%.

Analyst Ratings Changes

A number of brokerages have weighed in on WEC. Scotiabank set a $115.00 price target on shares of WEC Energy Group and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and cut their price target for the company from $106.00 to $100.00 in a research note on Wednesday, June 25th. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Barclays lifted their price objective 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, WEC Energy Group has a consensus rating of "Hold" and an average price target of $106.40.

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.