PNC Financial Services Group Inc. Sells 26,121 Shares of WEC Energy Group, Inc. $WEC

Key Points

• PNC Financial Services Group trimmed its WEC Energy Group stake by 1.0% in the fourth quarter, selling 26,121 shares but still holding 2.56 million shares valued at about $270.4 million.
• WEC Energy Group reported better-than-expected quarterly earnings, posting $2.45 EPS versus $2.30 expected, with revenue of $3.43 billion topping estimates and rising 9.0% year over year.
• The utility declared a quarterly dividend of $0.9525 per share, equal to a 3.4% yield, while analysts currently hold a consensus rating of “Hold” with a target price of $122.13.

PNC Financial Services Group Inc. decreased its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,563,809 shares of the utilities provider's stock after selling 26,121 shares during the period. PNC Financial Services Group Inc. owned about 0.79% of WEC Energy Group worth $270,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in WEC Energy Group by 4.9% in the third quarter. AE Wealth Management LLC now owns 171,770 shares of the utilities provider's stock valued at $19,683,000 after acquiring an additional 7,970 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in WEC Energy Group by 53.0% in the third quarter. Baillie Gifford & Co. now owns 131,363 shares of the utilities provider's stock valued at $15,053,000 after acquiring an additional 45,477 shares in the last quarter. London & Capital Asset Management Ltd boosted its holdings in WEC Energy Group by 48.1% in the third quarter. London & Capital Asset Management Ltd now owns 31,498 shares of the utilities provider's stock valued at $3,609,000 after acquiring an additional 10,231 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in WEC Energy Group by 4.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 636,134 shares of the utilities provider's stock valued at $72,895,000 after acquiring an additional 24,805 shares in the last quarter. Finally, Park National Corp OH boosted its holdings in WEC Energy Group by 4,008.6% in the fourth quarter. Park National Corp OH now owns 135,010 shares of the utilities provider's stock valued at $14,238,000 after acquiring an additional 131,724 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $111.48 on Wednesday. WEC Energy Group, Inc. has a 12 month low of $102.49 and a 12 month high of $119.62. The stock has a market cap of $36.31 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.50. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. The company's fifty day moving average price is $114.79 and its 200-day moving average price is $111.63.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $2.45 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.15. WEC Energy Group had a net margin of 16.25% and a return on equity of 12.72%. The firm had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.32 billion. During the same quarter in the previous year, the business posted $2.27 EPS. The company's quarterly revenue was up 9.0% on a year-over-year basis. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.59 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 14th will be given a $0.9525 dividend. This represents a $3.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, May 14th. WEC Energy Group's payout ratio is currently 76.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. BTIG Research reiterated a "buy" rating and issued a $135.00 price target on shares of WEC Energy Group in a report on Friday, January 30th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $127.00 price target on shares of WEC Energy Group in a report on Friday, January 23rd. Truist Financial dropped their target price on shares of WEC Energy Group from $124.00 to $119.00 and set a "hold" rating on the stock in a report on Monday. Jefferies Financial Group dropped their target price on shares of WEC Energy Group from $124.00 to $121.00 and set a "hold" rating on the stock in a report on Wednesday, January 28th. Finally, Mizuho set a $124.00 target price on shares of WEC Energy Group in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $122.13.

Insider Activity

In other news, Director Ulice Payne, Jr. sold 1,450 shares of WEC Energy Group stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $114.60, for a total value of $166,170.00. Following the completion of the transaction, the director owned 20,541 shares of the company's stock, valued at $2,353,998.60. The trade was a 6.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

WEC Energy Group Company Profile

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC's operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.

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