Kentucky Retirement Systems cut its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,593 shares of the utilities provider’s stock after selling 128 shares during the quarter. Kentucky Retirement Systems’ holdings in WEC Energy Group were worth $2,353,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Sowell Financial Services LLC purchased a new position in WEC Energy Group during the 1st quarter worth $325,000. CWA Asset Management Group LLC grew its position in WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider’s stock valued at $321,000 after buying an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in WEC Energy Group by 16.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider’s stock valued at $26,702,000 after buying an additional 34,986 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in shares of WEC Energy Group in the first quarter valued at about $522,000. Finally, Optas LLC purchased a new stake in shares of WEC Energy Group in the first quarter valued at about $329,000. Institutional investors and hedge funds own 77.20% of the company’s stock.
Insider Buying and Selling at WEC Energy Group
In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the transaction, the vice president now owns 2,686 shares of the company’s stock, valued at $289,470.22. This represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.
Analyst Ratings Changes
WEC Energy Group Stock Up 1.2%
Shares of NYSE WEC opened at $105.45 on Tuesday. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The company has a market capitalization of $33.65 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.86 and a beta of 0.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. The firm’s 50-day moving average is $106.68 and its two-hundred day moving average is $103.06.
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business earned $1.97 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. Equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.
WEC Energy Group Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a $0.8975 dividend. This represents a $3.59 dividend on an annualized basis and a yield of 3.40%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, May 14th. WEC Energy Group’s dividend payout ratio is 69.59%.
About WEC Energy Group
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.
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