WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 0.2% in the third quarter, Holdings Channel reports. The fund owned 2,404,820 shares of the utilities provider’s stock after selling 4,161 shares during the period. PNC Financial Services Group Inc.’s holdings in WEC Energy Group were worth $231,296,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WEC. Global X Japan Co. Ltd. increased its position in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares during the last quarter. Olistico Wealth LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at approximately $29,000. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at approximately $29,000. William B. Walkup & Associates Inc. acquired a new position in WEC Energy Group in the second quarter valued at approximately $31,000. Finally, Triad Wealth Partners LLC purchased a new position in WEC Energy Group in the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WEC. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. KeyCorp upped their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets increased their price objective on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.45.

Insider Activity at WEC Energy Group

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This trade represents a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $99.28 on Tuesday. The firm has a 50 day moving average of $96.33 and a two-hundred day moving average of $88.45. The stock has a market capitalization of $31.41 billion, a PE ratio of 24.27, a P/E/G ratio of 2.66 and a beta of 0.44. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31.

WEC Energy Group (NYSE:WEC) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the business posted $1.00 earnings per share. WEC Energy Group’s revenue was down 4.8% compared to the same quarter last year. On average, research analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be paid a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.36%. WEC Energy Group’s payout ratio is 81.66%.

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.