State of New Jersey Common Pension Fund D Has $9.72 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

State of New Jersey Common Pension Fund D boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 101,055 shares of the utilities provider’s stock after buying an additional 161 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in WEC Energy Group were worth $9,719,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its position in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares during the period. Olistico Wealth LLC acquired a new stake in WEC Energy Group during the 2nd quarter worth about $29,000. William B. Walkup & Associates Inc. bought a new position in shares of WEC Energy Group in the 2nd quarter worth about $31,000. ESL Trust Services LLC acquired a new position in shares of WEC Energy Group in the 1st quarter valued at about $37,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of WEC Energy Group in the 2nd quarter valued at about $36,000. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $97.59 on Monday. The company has a 50 day simple moving average of $95.87 and a two-hundred day simple moving average of $87.77. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $100.31. The company has a market capitalization of $30.87 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 2.51 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. Analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 81.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. KeyCorp lifted their target price on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Barclays increased their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. BMO Capital Markets lifted their price target on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group has an average rating of “Hold” and a consensus target price of $94.45.

Insider Buying and Selling

In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $93.04, for a total transaction of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.