M&T Bank Corp Has $2.12 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

M&T Bank Corp increased its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,501 shares of the utilities provider's stock after buying an additional 3,115 shares during the period. M&T Bank Corp's holdings in WEC Energy Group were worth $2,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Coastline Trust Co acquired a new position in WEC Energy Group during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in WEC Energy Group during the third quarter worth $45,000. Human Investing LLC bought a new position in WEC Energy Group during the fourth quarter worth $52,000. Bank of Jackson Hole Trust bought a new position in WEC Energy Group during the fourth quarter worth $59,000. Finally, Kestra Investment Management LLC bought a new position in WEC Energy Group during the fourth quarter worth $61,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of WEC Energy Group stock traded down $1.05 during trading on Wednesday, reaching $104.72. The company's stock had a trading volume of 2,699,798 shares, compared to its average volume of 2,011,364. The business's 50-day moving average price is $100.77 and its 200-day moving average price is $97.84. The firm has a market cap of $33.07 billion, a PE ratio of 21.68, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

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WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.10 EPS. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Analyst Ratings Changes

WEC has been the subject of a number of research analyst reports. Bank of America raised shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. KeyCorp lifted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. StockNews.com cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 6th. Scotiabank lifted 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 research report on Monday, December 9th. Finally, Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.88.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were 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 owns 274,955 shares of the company's stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now directly owns 21,951 shares of the company's stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

About WEC Energy Group

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.