Citizens Financial Group Inc RI Cuts Stock Holdings in WEC Energy Group Inc (NYSE:WEC)

Citizens Financial Group Inc RI decreased its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 10.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,169 shares of the utilities provider’s stock after selling 608 shares during the quarter. Citizens Financial Group Inc RI’s holdings in WEC Energy Group were worth $455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of WEC Energy Group by 0.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,312 shares of the utilities provider’s stock worth $1,873,000 after purchasing an additional 100 shares in the last quarter. ETRADE Capital Management LLC lifted its holdings in WEC Energy Group by 0.6% in the fourth quarter. ETRADE Capital Management LLC now owns 17,278 shares of the utilities provider’s stock valued at $1,594,000 after acquiring an additional 105 shares during the period. Ropes Wealth Advisors LLC lifted its holdings in WEC Energy Group by 1.7% in the first quarter. Ropes Wealth Advisors LLC now owns 6,445 shares of the utilities provider’s stock valued at $568,000 after acquiring an additional 108 shares during the period. Capital Advisors Inc. OK lifted its holdings in WEC Energy Group by 2.9% in the fourth quarter. Capital Advisors Inc. OK now owns 3,814 shares of the utilities provider’s stock valued at $352,000 after acquiring an additional 109 shares during the period. Finally, TrinityPoint Wealth LLC lifted its holdings in WEC Energy Group by 2.4% in the fourth quarter. TrinityPoint Wealth LLC now owns 5,161 shares of the utilities provider’s stock valued at $476,000 after acquiring an additional 119 shares during the period. 75.52% of the stock is owned by institutional investors.

NYSE WEC opened at $86.68 on Friday. The stock has a market capitalization of $27.54 billion, a PE ratio of 23.55, a P/E/G ratio of 3.96 and a beta of 0.19. The business has a 50 day simple moving average of $90.82 and a two-hundred day simple moving average of $92.94. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.65 and a quick ratio of 0.51. WEC Energy Group Inc has a 1-year low of $68.01 and a 1-year high of $109.53.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Monday, May 4th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.11. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.43 billion. WEC Energy Group had a return on equity of 11.40% and a net margin of 16.09%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, analysts anticipate that WEC Energy Group Inc will post 3.73 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 14th will be paid a $0.6325 dividend. This represents a $2.53 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Wednesday, May 13th. WEC Energy Group’s payout ratio is 70.67%.

Several research analysts have recently commented on WEC shares. Barclays decreased their price objective on WEC Energy Group from $97.00 to $74.00 and set an “underweight” rating on the stock in a research note on Thursday, March 26th. Wells Fargo & Co decreased their price objective on WEC Energy Group from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 5th. Credit Suisse Group decreased their price objective on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating on the stock in a research note on Thursday, April 30th. CSFB decreased their price objective on WEC Energy Group from $87.00 to $79.00 and set an “underperform” rating on the stock in a research note on Thursday, April 30th. Finally, Cfra decreased their price objective on WEC Energy Group from $87.00 to $77.00 and set a “strong sell” rating on the stock in a research note on Tuesday, May 5th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $86.40.

In related news, insider Tom Metcalfe sold 8,835 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $102.07, for a total transaction of $901,788.45. Following the completion of the sale, the insider now directly owns 14,069 shares of the company’s stock, valued at approximately $1,436,022.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% 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 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.

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

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