Prudential Financial Inc. Has $16.09 Million Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Prudential Financial Inc. lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,102 shares of the utilities provider's stock after selling 44,812 shares during the quarter. Prudential Financial Inc. owned approximately 0.05% of WEC Energy Group worth $16,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WEC. Geode Capital Management LLC boosted its holdings in shares of WEC Energy Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider's stock valued at $762,453,000 after acquiring an additional 105,580 shares during the period. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 699,177 shares during the last quarter. Wellington Management Group LLP lifted its position 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 purchasing an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock valued at $363,350,000 after purchasing an additional 87,711 shares during the period. Finally, Bank of New York Mellon Corp grew its position in WEC Energy Group by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider's stock worth $212,691,000 after purchasing an additional 46,609 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

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WEC Energy Group Price Performance

WEC stock traded down $0.12 during trading hours on Tuesday, hitting $108.86. 2,171,566 shares of the stock traded hands, compared to its average volume of 2,090,402. The stock has a 50-day simple moving average of $103.96 and a 200 day simple moving average of $99.13. The company has a market cap of $34.38 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $110.19. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WEC. Bank of America raised WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. KeyCorp lifted their target price on WEC Energy Group from $108.00 to $109.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. StockNews.com cut WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. Finally, Barclays raised shares of 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 report on Thursday, January 2nd. One research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $101.88.

Insider Transactions at WEC Energy Group

In other WEC Energy Group news, 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 transaction of $119,795.50. Following the sale, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the firm's 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 transaction, the director now owns 274,955 shares of the company's stock, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.