Retirement Systems of Alabama Raises Position in WEC Energy Group Inc (WEC)

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Retirement Systems of Alabama boosted its stake in WEC Energy Group Inc (NYSE:WEC) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 519,190 shares of the utilities provider’s stock after purchasing an additional 1,379 shares during the period. Retirement Systems of Alabama’s holdings in WEC Energy Group were worth $41,058,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Virtu Financial LLC increased its position in shares of WEC Energy Group by 4.1% during the first quarter. Virtu Financial LLC now owns 5,647 shares of the utilities provider’s stock worth $447,000 after buying an additional 223 shares during the period. Shorepoint Capital Partners LLC bought a new position in shares of WEC Energy Group in the first quarter valued at $356,000. Mercer Global Advisors Inc. ADV bought a new position in shares of WEC Energy Group in the first quarter valued at $662,000. Gofen & Glossberg LLC IL lifted its stake in shares of WEC Energy Group by 0.4% in the first quarter. Gofen & Glossberg LLC IL now owns 42,889 shares of the utilities provider’s stock valued at $3,392,000 after buying an additional 171 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of WEC Energy Group in the first quarter valued at $2,765,000. 74.91% of the stock is owned by institutional investors and hedge funds.

WEC has been the topic of a number of recent research reports. Argus raised their price objective on shares of WEC Energy Group to $85.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Credit Suisse Group raised their price target on shares of WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Wells Fargo & Co raised their price target on shares of WEC Energy Group from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th. Zacks Investment Research lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. Finally, Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $71.00 to $70.00 in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $73.70.

WEC stock traded up $0.07 during mid-day trading on Monday, hitting $77.89. The company had a trading volume of 51,766 shares, compared to its average volume of 1,903,207. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 5.01 and a beta of 0.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.51 and a current ratio of 0.67. WEC Energy Group Inc has a 12 month low of $58.48 and a 12 month high of $80.05.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, February 12th. The utilities provider reported $0.65 EPS for the quarter, topping the consensus estimate of $0.64 by $0.01. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.96 billion. WEC Energy Group had a net margin of 13.81% and a return on equity of 10.87%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Analysts forecast that WEC Energy Group Inc will post 3.52 earnings per share for the current year.

In other WEC Energy Group news, Director Allen L. Leverett sold 112,250 shares of WEC Energy Group stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $74.35, for a total value of $8,345,787.50. Following the sale, the director now owns 151,589 shares of the company’s stock, valued at $11,270,642.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Scott J. Lauber sold 3,650 shares of WEC Energy Group stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $76.26, for a total transaction of $278,349.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 456,668 shares of company stock worth $34,330,208. Insiders own 0.75% of the company’s stock.

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About WEC Energy Group

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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