PNC Financial Services Group Inc. Has $224.14 Million Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

PNC Financial Services Group Inc. cut its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 0.9% in the 4th 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 SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mizuho Securities USA LLC lifted its stake 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 acquiring an additional 25,975,652 shares in the last quarter. Wellington Management Group LLP lifted its stake in WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock valued at $453,794,000 after acquiring an additional 4,691,017 shares in the last quarter. Raymond James Financial Inc. bought a new stake in WEC Energy Group in the 4th quarter valued at approximately $188,879,000. Charles Schwab Investment Management Inc. lifted its stake in WEC Energy Group by 102.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider's stock valued at $362,971,000 after acquiring an additional 1,912,223 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after acquiring an additional 699,177 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

WEC Energy Group Stock Performance

WEC traded up $3.09 during trading hours on Friday, reaching $106.89. The company's stock had a trading volume of 3,884,535 shares, compared to its average volume of 2,281,444. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $108.87. The company's 50-day moving average is $100.03 and its 200-day moving average is $97.54. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm has a market cap of $33.76 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly 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). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company posted $1.10 EPS. The firm's revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling at WEC Energy Group

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com cut WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Scotiabank upped their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a research note on Monday, December 9th. Wells Fargo & Company upped their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $89.00 to $93.00 in a research note on Thursday, January 2nd. Finally, BMO Capital Markets upped their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and a consensus target price of $101.88.

WEC Energy Group Company 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.