New York State Common Retirement Fund Sells 11,300 Shares of WEC Energy Group, Inc. (NYSE:WEC)

New York State Common Retirement Fund trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 136,421 shares of the utilities provider’s stock after selling 11,300 shares during the period. New York State Common Retirement Fund’s holdings in WEC Energy Group were worth $12,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WEC. Mizuho Securities USA LLC boosted its holdings in WEC Energy Group by 106,685.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after buying an additional 25,975,652 shares during the period. Geode Capital Management LLC increased its position in shares of WEC Energy Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock valued at $762,453,000 after buying an additional 105,580 shares during the period. JPMorgan Chase & Co. increased its holdings in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares during the period. Wellington Management Group LLP boosted its holdings in WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after purchasing an additional 4,691,017 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Up 0.8 %

Shares of NYSE WEC opened at $104.89 on Tuesday. The firm has a fifty day simple moving average of $97.96 and a two-hundred day simple moving average of $96.56. The firm has a market capitalization of $33.18 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.49. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12 month low of $76.50 and a 12 month high of $105.29.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 earnings per share. Equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be paid a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio is 73.91%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WEC shares. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. KeyCorp upped their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.88.

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.