PNC Financial Services Group Inc. Cuts Position in WEC Energy Group, Inc. (NYSE:WEC)

PNC Financial Services Group Inc. lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,383,477 shares of the utilities provider’s stock after selling 21,343 shares during the quarter. PNC Financial Services Group Inc. owned about 0.75% of WEC Energy Group worth $224,142,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mizuho Securities USA LLC increased its holdings in WEC Energy Group by 106,685.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock valued at $2,500,680,000 after purchasing an additional 25,975,652 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of WEC Energy Group during the fourth quarter worth about $188,879,000. Charles Schwab Investment Management Inc. lifted its stake in shares of WEC Energy Group by 102.6% during the third 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after purchasing an additional 699,177 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

WEC stock opened at $106.89 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The firm has a market cap of $33.76 billion, a P/E ratio of 22.13, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $108.87. The stock’s 50 day simple moving average is $100.03 and its 200 day simple moving average is $97.49.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

Analyst Ratings Changes

WEC has been the topic of several recent research reports. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. Scotiabank boosted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, KeyCorp boosted their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $101.88.

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.