WEC Energy Group Inc (NYSE:WEC) Position Increased by MML Investors Services LLC

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MML Investors Services LLC raised its position in WEC Energy Group Inc (NYSE:WEC) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,939 shares of the utilities provider’s stock after purchasing an additional 278 shares during the quarter. MML Investors Services LLC’s holdings in WEC Energy Group were worth $707,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WEC. Oregon Public Employees Retirement Fund raised its position in WEC Energy Group by 6,740.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,359,757 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 2,325,262 shares during the period. FMR LLC raised its position in WEC Energy Group by 275.1% in the 4th quarter. FMR LLC now owns 2,807,699 shares of the utilities provider’s stock worth $194,462,000 after purchasing an additional 2,059,213 shares during the period. BlackRock Inc. raised its position in WEC Energy Group by 5.7% in the 4th quarter. BlackRock Inc. now owns 29,050,912 shares of the utilities provider’s stock worth $2,012,066,000 after purchasing an additional 1,563,355 shares during the period. Bahl & Gaynor Inc. raised its position in WEC Energy Group by 56.5% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,843,839 shares of the utilities provider’s stock worth $127,704,000 after purchasing an additional 665,695 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of WEC Energy Group by 44.5% during the first quarter. Janus Henderson Group PLC now owns 1,635,780 shares of the utilities provider’s stock worth $129,358,000 after acquiring an additional 504,048 shares during the period. 74.93% of the stock is currently owned by institutional investors.

Shares of NYSE:WEC opened at $84.31 on Friday. The company has a market cap of $26.59 billion, a PE ratio of 24.44, a P/E/G ratio of 4.08 and a beta of 0.13. WEC Energy Group Inc has a one year low of $59.39 and a one year high of $84.67. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.58 and a current ratio of 0.69.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. WEC Energy Group had a net margin of 14.03% and a return on equity of 11.06%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts anticipate that WEC Energy Group Inc will post 3.51 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.59 per share. The ex-dividend date was Monday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.80%. WEC Energy Group’s dividend payout ratio is presently 70.66%.

In other news, VP William J. Guc sold 4,481 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $78.10, for a total transaction of $349,966.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Scott J. Lauber sold 3,360 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $82.50, for a total transaction of $277,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 471,457 shares of company stock worth $38,588,620. Insiders own 0.75% of the company’s stock.

A number of brokerages have recently commented on WEC. KeyCorp began coverage on shares of WEC Energy Group in a research report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Wolfe Research set a $77.00 target price on shares of WEC Energy Group and gave the stock a “sell” rating in a research report on Friday, April 26th. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Goldman Sachs Group lowered shares of WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $71.00 to $70.00 in a research report on Monday, April 8th. Finally, Argus raised their target price on shares of WEC Energy Group to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $74.33.

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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.

Further Reading: What is the Current Ratio?

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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