Public Sector Pension Investment Board Purchases 17,717 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Public Sector Pension Investment Board boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 49.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 53,522 shares of the utilities provider’s stock after buying an additional 17,717 shares during the period. Public Sector Pension Investment Board’s holdings in WEC Energy Group were worth $4,199,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WEC. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of WEC Energy Group by 2.0% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,047 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 117 shares in the last quarter. Global X Japan Co. Ltd. boosted its holdings in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 118 shares during the last quarter. Diversified Trust Co grew its stake in shares of WEC Energy Group by 2.7% in the first quarter. Diversified Trust Co now owns 5,099 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 134 shares during the period. MPS Loria Financial Planners LLC raised its holdings in shares of WEC Energy Group by 2.1% during the first quarter. MPS Loria Financial Planners LLC now owns 6,704 shares of the utilities provider’s stock valued at $551,000 after purchasing an additional 135 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its position in WEC Energy Group by 52.6% during the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 142 shares during the period. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other WEC Energy Group news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the sale, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEC. Jefferies Financial Group assumed coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price for the company. Bank of America upped their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. KeyCorp upped their price target on shares of WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Scotiabank raised their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $91.31.

WEC Energy Group Trading Down 0.0 %

WEC Energy Group stock opened at $94.59 on Friday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.65. The firm has a market capitalization of $29.90 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.43 and a beta of 0.44. The firm has a 50 day moving average of $90.59 and a 200 day moving average of $84.23. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio (DPR) is 72.93%.

WEC Energy Group 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.