Citigroup Inc. Sells 3,333 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Citigroup Inc. cut its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 245,036 shares of the utilities provider’s stock after selling 3,333 shares during the period. Citigroup Inc. owned 0.08% of WEC Energy Group worth $23,568,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of WEC. Raymond James Trust N.A. increased its holdings in WEC Energy Group by 41.9% during the third quarter. Raymond James Trust N.A. now owns 18,054 shares of the utilities provider’s stock worth $1,736,000 after buying an additional 5,330 shares during the last quarter. AlphaCore Capital LLC grew its position in shares of WEC Energy Group by 3.7% in the 3rd quarter. AlphaCore Capital LLC now owns 4,534 shares of the utilities provider’s stock valued at $436,000 after acquiring an additional 161 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of WEC Energy Group by 102.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after purchasing an additional 1,912,223 shares during the last quarter. Trustmark National Bank Trust Department bought a new stake in shares of WEC Energy Group in the 3rd quarter valued at about $202,000. Finally, Moors & Cabot Inc. grew its holdings in WEC Energy Group by 13.3% during the third quarter. Moors & Cabot Inc. now owns 5,331 shares of the utilities provider’s stock worth $513,000 after purchasing an additional 627 shares during the period. 77.20% of the stock is currently owned by institutional investors.

WEC Energy Group Trading Up 0.2 %

Shares of NYSE:WEC opened at $101.55 on Wednesday. The business’s 50 day simple moving average is $96.92 and its 200 day simple moving average is $89.14. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $101.68. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $32.13 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.73 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. WEC Energy Group’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 14th will be given a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s payout ratio is presently 81.66%.

Insider Transactions at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of WEC Energy Group stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the sale, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This trade represents a 12.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the sale, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,034 shares of company stock valued at $5,168,029. Company insiders own 0.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WEC. Wells Fargo & Company raised their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank lifted their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays raised their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. KeyCorp upped their price target on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.45.

WEC Energy Group Profile

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.