WEC Energy Group, Inc. (WEC) Stake Lessened by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI lessened its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,015 shares of the utilities provider’s stock after selling 95 shares during the quarter. Citizens Financial Group Inc RI’s holdings in WEC Energy Group were worth $553,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Oakworth Capital Inc. raised its stake in shares of WEC Energy Group by 8.8% in the 2nd quarter. Oakworth Capital Inc. now owns 1,632 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 132 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of WEC Energy Group by 12.1% in the 1st quarter. Trust Co. of Vermont now owns 1,737 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 187 shares in the last quarter. Delphi Private Advisors LLC raised its stake in shares of WEC Energy Group by 182.3% in the 2nd quarter. Delphi Private Advisors LLC now owns 1,976 shares of the utilities provider’s stock valued at $120,000 after purchasing an additional 1,276 shares in the last quarter. Country Trust Bank raised its stake in shares of WEC Energy Group by 5.7% in the 2nd quarter. Country Trust Bank now owns 2,066 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 112 shares in the last quarter. Finally, Financial Architects Inc raised its stake in shares of WEC Energy Group by 7.4% in the 2nd quarter. Financial Architects Inc now owns 2,324 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.79% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of WEC Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. KeyCorp restated a “hold” rating on shares of WEC Energy Group in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services upped their target price on shares of WEC Energy Group from $62.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $58.00 target price (down previously from $59.00) on shares of WEC Energy Group in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $62.86.

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WEC Energy Group, Inc. (WEC) traded down 0.358% during midday trading on Wednesday, reaching $65.395. 229,165 shares of the company traded hands. The firm’s 50 day moving average price is $64.44 and its 200 day moving average price is $62.08. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 21.441 and a beta of 0.12. WEC Energy Group, Inc. has a 12 month low of $53.66 and a 12 month high of $67.20.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $0.57 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. On average, analysts expect that WEC Energy Group, Inc. will post $3.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.17%. WEC Energy Group’s dividend payout ratio (DPR) is currently 68.42%.

In other news, VP Scott J. Lauber sold 1,500 shares of WEC Energy Group stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.00, for a total transaction of $97,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of WEC Energy Group stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,190 shares of company stock worth $12,435,484. 0.97% of the stock is owned by company insiders.

WEC Energy Group Profile

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

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

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