Citizens Financial Group Inc. RI Purchases Shares of 12,703 WEC Energy Group, Inc. $WEC

Citizens Financial Group Inc. RI purchased a new position in WEC Energy Group, Inc. (NYSE:WEC) during the second quarter, Holdings Channel reports. The fund purchased 12,703 shares of the utilities provider’s stock, valued at approximately $1,483,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WEC. Empowered Funds LLC grew its position in WEC Energy Group by 16.9% during the first quarter. Empowered Funds LLC now owns 16,698 shares of the utilities provider’s stock valued at $1,820,000 after acquiring an additional 2,417 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of WEC Energy Group by 41.3% in the 1st quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock worth $2,925,000 after acquiring an additional 7,841 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of WEC Energy Group by 7.3% in the 2nd quarter. Cerity Partners LLC now owns 44,286 shares of the utilities provider’s stock valued at $4,616,000 after purchasing an additional 3,006 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of WEC Energy Group by 477.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 333,552 shares of the utilities provider’s stock valued at $34,756,000 after purchasing an additional 275,786 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of WEC Energy Group by 8.8% in the second quarter. NewEdge Advisors LLC now owns 58,364 shares of the utilities provider’s stock worth $6,082,000 after buying an additional 4,730 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

NYSE:WEC opened at $111.16 on Wednesday. The firm has a market capitalization of $36.22 billion, a PE ratio of 21.54, a PEG ratio of 1.91 and a beta of 0.47. The stock’s fifty day moving average is $113.19 and its 200 day moving average is $113.78. WEC Energy Group, Inc. has a fifty-two week low of $102.95 and a fifty-two week high of $119.91. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.39 and a current ratio of 0.53.

WEC Energy Group (NYSE:WEC) last released its earnings results on Wednesday, July 29th. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.11 billion. WEC Energy Group had a net margin of 16.69% and a return on equity of 12.90%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $0.76 EPS. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.59 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.9525 dividend. This represents a $3.81 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, August 14th. WEC Energy Group’s dividend payout ratio is 73.84%.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 980 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total value of $103,468.40. Following the transaction, the director directly owned 19,588 shares in the company, valued at approximately $2,068,101.04. This represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

WEC has been the topic of a number of recent analyst reports. KeyCorp cut their price target on shares of WEC Energy Group from $126.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Wells Fargo & Company reissued an “overweight” rating and issued a $127.00 target price on shares of WEC Energy Group in a research note on Tuesday, April 21st. Weiss Ratings lowered WEC Energy Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH cut WEC Energy Group from a “buy” rating to a “neutral” rating and set a $110.50 price objective for the company. in a report on Tuesday, August 4th. Finally, Truist Financial cut their price objective on WEC Energy Group from $122.00 to $114.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $121.91.

WEC Energy Group Profile

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.