State of Tennessee Treasury Department boosted its stake in shares of WEC Energy Group Inc (NYSE:WEC) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,393 shares of the utilities provider’s stock after purchasing an additional 22,030 shares during the quarter. State of Tennessee Treasury Department’s holdings in WEC Energy Group were worth $13,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp increased its holdings in WEC Energy Group by 2.0% during the 1st quarter. State Street Corp now owns 18,076,710 shares of the utilities provider’s stock worth $1,593,100,000 after purchasing an additional 356,268 shares during the period. Magellan Asset Management Ltd boosted its position in shares of WEC Energy Group by 4.1% during the 4th quarter. Magellan Asset Management Ltd now owns 14,070,054 shares of the utilities provider’s stock worth $1,297,681,000 after acquiring an additional 548,188 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of WEC Energy Group by 1.1% during the 1st quarter. Wells Fargo & Company MN now owns 7,112,215 shares of the utilities provider’s stock worth $626,800,000 after acquiring an additional 77,226 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of WEC Energy Group by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 5,410,286 shares of the utilities provider’s stock worth $498,065,000 after acquiring an additional 265,764 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of WEC Energy Group by 1.8% during the 1st quarter. Nuveen Asset Management LLC now owns 2,797,292 shares of the utilities provider’s stock worth $246,526,000 after acquiring an additional 49,525 shares in the last quarter. Institutional investors own 74.22% of the company’s stock.

Several research firms have recently issued reports on WEC. UBS Group lowered their price objective on WEC Energy Group from $93.00 to $91.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Investment Research raised WEC Energy Group from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Monday, June 1st. Cfra decreased their target price on WEC Energy Group from $87.00 to $77.00 and set a “strong sell” rating for the company in a research report on Tuesday, May 5th. Credit Suisse Group decreased their target price on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. decreased their target price on WEC Energy Group from $95.00 to $87.00 and set a “neutral” rating for the company in a research report on Wednesday, May 27th. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $86.22.

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $87.31, for a total value of $104,772.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

WEC stock traded down $0.75 during midday trading on Friday, reaching $84.46. The company had a trading volume of 16,967 shares, compared to its average volume of 1,780,909. The company has a quick ratio of 0.51, a current ratio of 0.65 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $88.62 and a 200 day moving average price of $93.08. WEC Energy Group Inc has a fifty-two week low of $68.01 and a fifty-two week high of $109.53. The firm has a market capitalization of $27.38 billion, a PE ratio of 23.15, a P/E/G ratio of 3.94 and a beta of 0.20.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.11. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.43 billion. WEC Energy Group had a return on equity of 11.40% and a net margin of 16.09%. The business’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 earnings per share. Research analysts predict that WEC Energy Group Inc will post 3.73 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Thursday, May 14th were given a $0.6325 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.53 dividend on an annualized basis and a yield of 3.00%. WEC Energy Group’s dividend payout ratio (DPR) is 70.67%.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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