Citigroup Inc. trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 29.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 288,756 shares of the utilities provider’s stock after selling 119,098 shares during the period. Citigroup Inc. owned approximately 0.09% of WEC Energy Group worth $25,480,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group during the second quarter valued at approximately $26,000. Dakota Community Bank & Trust NA bought a new stake in WEC Energy Group during the second quarter valued at approximately $27,000. Achmea Investment Management B.V. bought a new stake in WEC Energy Group during the first quarter valued at approximately $27,000. First Manhattan Co. grew its position in WEC Energy Group by 102.0% during the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares during the period. Finally, Center for Financial Planning Inc. bought a new stake in WEC Energy Group during the second quarter valued at approximately $33,000. 75.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on WEC shares. BMO Capital Markets cut their target price on shares of WEC Energy Group from $98.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, August 2nd. KeyCorp cut their target price on shares of WEC Energy Group from $102.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday, October 5th. Royal Bank of Canada assumed coverage on shares of WEC Energy Group in a research report on Wednesday, September 27th. They set a “sector perform” rating and a $95.00 target price for the company. UBS Group dropped their price target on shares of WEC Energy Group from $87.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, October 4th. Finally, Bank of America lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $86.00 in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.00.
Check Out Our Latest Research Report on WEC
WEC Energy Group Price Performance
Shares of NYSE:WEC opened at $81.74 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.42 and a current ratio of 0.60. The firm has a fifty day moving average price of $82.42 and a 200 day moving average price of $86.52. WEC Energy Group, Inc. has a fifty-two week low of $75.47 and a fifty-two week high of $101.11. The firm has a market cap of $25.78 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 3.11 and a beta of 0.43.
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a net margin of 14.80% and a return on equity of 11.48%. WEC Energy Group’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 4.61 earnings per share for the current fiscal year.
WEC Energy Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 13th. WEC Energy Group’s payout ratio is 72.06%.
WEC Energy Group Company Profile
(Free Report)
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider WEC Energy Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and WEC Energy Group wasn’t on the list.
While WEC Energy Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
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Source: marketbeat.com
Citigroup Inc. trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 29.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 288,756 shares of the utilities provider’s stock after selling 119,098 shares during the period. Citigroup Inc. owned approximately 0.09% of WEC Energy Group worth $25,480,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Northwest Bank & Trust Co purchased a new position in shares of WEC Energy Group during the second quarter valued at approximately $26,000. Dakota Community Bank & Trust NA bought a new stake in WEC Energy Group during the second quarter valued at approximately $27,000. Achmea Investment Management B.V. bought a new stake in WEC Energy Group during the first quarter valued at approximately $27,000. First Manhattan Co. grew its position in WEC Energy Group by 102.0% during the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares during the period. Finally, Center for Financial Planning Inc. bought a new stake in WEC Energy Group during the second quarter valued at approximately $33,000. 75.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on WEC shares. BMO Capital Markets cut their target price on shares of WEC Energy Group from $98.00 to $95.00 and set a “market perform” rating for the company in a research report on Wednesday, August 2nd. KeyCorp cut their target price on shares of WEC Energy Group from $102.00 to $94.00 and set an “overweight” rating for the company in a research report on Thursday, October 5th. Royal Bank of Canada assumed coverage on shares of WEC Energy Group in a research report on Wednesday, September 27th. They set a “sector perform” rating and a $95.00 target price for the company. UBS Group dropped their price target on shares of WEC Energy Group from $87.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, October 4th. Finally, Bank of America lowered shares of WEC Energy Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $102.00 to $86.00 in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.00.
Check Out Our Latest Research Report on WEC
WEC Energy Group Price Performance
Shares of NYSE:WEC opened at $81.74 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.42 and a current ratio of 0.60. The firm has a fifty day moving average price of $82.42 and a 200 day moving average price of $86.52. WEC Energy Group, Inc. has a fifty-two week low of $75.47 and a fifty-two week high of $101.11. The firm has a market cap of $25.78 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 3.11 and a beta of 0.43.
WEC Energy Group (NYSE:WEC – Get Free Report) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. WEC Energy Group had a net margin of 14.80% and a return on equity of 11.48%. WEC Energy Group’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 4.61 earnings per share for the current fiscal year.
WEC Energy Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 13th. WEC Energy Group’s payout ratio is 72.06%.
WEC Energy Group Company Profile
(Free Report)
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable 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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider WEC Energy Group, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and WEC Energy Group wasn’t on the list.
While WEC Energy Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s guide to pot stock investing and which pot companies show the most promise.
Get This Free Report
Source: marketbeat.com
