Arizona State Retirement System Buys 1,322 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Arizona State Retirement System lifted its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,805 shares of the utilities provider’s stock after purchasing an additional 1,322 shares during the quarter. Arizona State Retirement System’s holdings in WEC Energy Group were worth $8,633,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WEC. Coastline Trust Co bought a new stake in shares of WEC Energy Group in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in WEC Energy Group in the 3rd quarter worth about $45,000. Human Investing LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $52,000. Bank of Jackson Hole Trust purchased a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $59,000. Finally, Kestra Investment Management LLC bought a new position in shares of WEC Energy Group during the fourth quarter valued at approximately $61,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of NYSE WEC opened at $106.89 on Friday. The company has a 50 day simple moving average of $100.03 and a two-hundred day simple moving average of $97.49. The stock has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45. 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 $77.47 and a 12 month high of $108.87.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. As a group, analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Insider Transactions at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was 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. This represents a 8.33 % decrease in their position. The transaction 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 stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WEC. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, Bank of America upgraded WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target 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.