WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in WEC Energy Group, Inc. (NYSE:WEC) by 6.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,888 shares of the utilities provider’s stock after selling 1,179 shares during the quarter. Maryland State Retirement & Pension System’s holdings in WEC Energy Group were worth $1,588,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in WEC Energy Group by 1.3% in the 3rd 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 stake in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the period. Wellington Management Group LLP increased its stake 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 buying an additional 4,691,017 shares during the period. Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after buying an additional 87,711 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in WEC Energy Group by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock valued at $212,691,000 after buying an additional 46,609 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $106.76 on Friday. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm’s 50-day simple moving average is $102.63 and its 200 day simple moving average is $98.49. The firm has a market capitalization of $33.72 billion, a PE ratio of 22.10, a P/E/G ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. WEC Energy Group’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective 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 lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Scotiabank boosted their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets boosted their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.88.

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.