PNC Financial Services Group Inc. Purchases 226,894 Shares of WEC Energy Group, Inc. $WEC

PNC Financial Services Group Inc. grew its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,589,930 shares of the utilities provider’s stock after purchasing an additional 226,894 shares during the quarter. PNC Financial Services Group Inc.’s holdings in WEC Energy Group were worth $296,780,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in shares of 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 increased its holdings in WEC Energy Group by 41.3% in the first quarter. Woodline Partners LP now owns 26,839 shares of the utilities provider’s stock valued at $2,925,000 after purchasing an additional 7,841 shares during the period. CWM LLC raised its position in WEC Energy Group by 16.1% during the 2nd quarter. CWM LLC now owns 22,696 shares of the utilities provider’s stock worth $2,365,000 after purchasing an additional 3,142 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of WEC Energy Group by 12.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,224 shares of the utilities provider’s stock valued at $753,000 after buying an additional 799 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of WEC Energy Group by 6.3% in the second quarter. TD Asset Management Inc now owns 186,221 shares of the utilities provider’s stock valued at $19,404,000 after buying an additional 11,097 shares during the period. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 8,089 shares of WEC Energy Group stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $110.70, for a total transaction of $895,452.30. Following the completion of the transaction, the chief executive officer owned 66,801 shares in the company, valued at approximately $7,394,870.70. The trade was a 10.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

WEC has been the topic of a number of recent analyst reports. Barclays lifted their price objective on WEC Energy Group from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. KeyCorp reiterated an “overweight” rating on shares of WEC Energy Group in a research report on Friday, January 16th. Argus raised shares of WEC Energy Group to a “strong-buy” rating in a research note on Monday, February 9th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $121.00 price target on shares of WEC Energy Group in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.07.

WEC Energy Group Price Performance

WEC stock opened at $115.63 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.44. The company’s 50-day moving average is $107.67 and its 200-day moving average is $109.88. The stock has a market capitalization of $37.61 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. WEC Energy Group, Inc. has a 1 year low of $100.61 and a 1 year high of $118.18.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, February 5th. The utilities provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. WEC Energy Group had a return on equity of 12.40% and a net margin of 15.90%.The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s quarterly revenue was down 8.8% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 13th will be issued a dividend of $0.9525 per share. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.89. This represents a $3.81 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, February 13th. WEC Energy Group’s dividend payout ratio is 78.88%.

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.