Ontario Teachers Pension Plan Board Grows Holdings in WEC Energy Group, Inc. $WEC

Ontario Teachers Pension Plan Board increased its position in WEC Energy Group, Inc. (NYSE:WEC) by 149.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,017 shares of the utilities provider’s stock after buying an additional 32,971 shares during the period. Ontario Teachers Pension Plan Board’s holdings in WEC Energy Group were worth $5,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of WEC Energy Group in the first quarter worth $403,372,000. Charles Schwab Investment Management Inc. increased its holdings in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after acquiring an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 1,529.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock valued at $77,290,000 after purchasing an additional 665,681 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in shares of WEC Energy Group by 40.0% during the first quarter. Bahl & Gaynor Inc. now owns 1,319,511 shares of the utilities provider’s stock valued at $143,800,000 after purchasing an additional 376,960 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WEC has been the topic of a number of research reports. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research note on Monday, October 13th. Mizuho set a $125.00 price target on shares of WEC Energy Group in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WEC Energy Group in a research note on Thursday. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $114.00 to $120.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Finally, TD Cowen initiated coverage on shares of WEC Energy Group in a report on Thursday, October 16th. They issued a “hold” rating and a $125.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.21.

WEC Energy Group Trading Down 0.8%

WEC stock opened at $110.80 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 3.13 and a beta of 0.48. The firm’s fifty day simple moving average is $112.89 and its two-hundred day simple moving average is $108.92.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The firm had revenue of $2.28 billion during the quarter. As a group, analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a $0.8925 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group’s dividend payout ratio (DPR) is presently 67.49%.

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.