Texas Permanent School Fund Corp Trims Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Texas Permanent School Fund Corp reduced its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 20.0% during the second quarter, HoldingsChannel reports. The fund owned 52,144 shares of the utilities provider’s stock after selling 13,059 shares during the period. Texas Permanent School Fund Corp’s holdings in WEC Energy Group were worth $4,091,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Confluence Investment Management LLC acquired a new position in shares of WEC Energy Group in the first quarter valued at approximately $127,945,000. Clearbridge Investments LLC boosted its stake in WEC Energy Group by 763.5% during the fourth quarter. Clearbridge Investments LLC now owns 1,332,587 shares of the utilities provider’s stock valued at $112,164,000 after buying an additional 1,178,270 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in WEC Energy Group by 93.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,665,038 shares of the utilities provider’s stock worth $140,146,000 after purchasing an additional 803,718 shares during the last quarter. Earnest Partners LLC raised its stake in shares of WEC Energy Group by 36.0% in the first quarter. Earnest Partners LLC now owns 1,748,141 shares of the utilities provider’s stock worth $143,557,000 after purchasing an additional 462,646 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of WEC Energy Group in the first quarter valued at $23,297,000. Institutional investors own 77.20% of the company’s shares.

Indoor activity

In related news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the transaction, the vice president now directly owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other WEC Energy Group news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares in the company, valued at $716,208.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, VP Joshua M. Erickson sold 350 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares of the company’s stock, valued at $213,335.75. The disclosure for this sale can be found here. Insiders have sold a total of 11,702 shares of company stock worth $1,078,058 over the last 90 days. Company insiders own 0.34% of the company’s shares.

WEC Energy Group stocks rose 0.9%

Shares of WEC stock opened at $95.84 on Friday. The company has a market cap of $30.27 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 2.45 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54, and a current ratio of 0.74. The company’s 50-day moving average is $88.15, and its two-hundred-day moving average is $83.33. WEC Energy Group, Inc. it has a fifty-two week low of $75.13 and a fifty-two week high of $96.15.

WEC Energy Group (NYSE:WEC – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company’s quarterly revenue was down 3.2% year-over-year. In the same quarter last year, the business earned $0.92 EPS. As a group, analysts estimate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.835 per share. This represents an annualized dividend of $3.34 and a dividend yield of 3.48%. The ex-dividend date was Wednesday, August 14. WEC Energy Group’s dividend payout ratio is currently 72.93%.

Changes in Analyst Ratings

WEC has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Scotiabank upped their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. BMO Capital Markets boosted their price target on 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. Finally, Bank of America upped their price target on WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $90.17, according to MarketBeat.

Get the latest stock report on WEC Energy Group

WEC Energy Group profile

(Free Report)

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and unregulated energy services in the United States. It operates through the Wisconsin, Illinois, Other States, Electric Transmission and Non-Utility Energy Infrastructure segments.

Featured stories

Want to see what other hedge funds own WEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for WEC Energy Group, Inc. (NYSE:WEC – Free Report).

Receive daily news and ratings for WEC Energy Group – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for WEC Energy Group and related companies with MarketBeat.com’s FREE daily email newsletter.