M&T Bank Corp Raises Position in WEC Energy Group, Inc. (NYSE:WEC)

M&T Bank Corp lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 16.1% in the 4th quarter, HoldingsChannel reports. The firm owned 22,501 shares of the utilities provider’s stock after buying an additional 3,115 shares during the quarter. M&T Bank Corp’s holdings in WEC Energy Group were worth $2,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WEC. Coastline Trust Co purchased a new stake in shares of WEC Energy Group during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of WEC Energy Group during the 3rd quarter worth approximately $45,000. Human Investing LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $52,000. Bank of Jackson Hole Trust purchased a new stake in shares of WEC Energy Group during the 4th quarter worth approximately $59,000. Finally, Kestra Investment Management LLC purchased a new position in WEC Energy Group in the 4th quarter valued at approximately $61,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction on 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 directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction on 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 directly owns 21,951 shares of the company’s stock, valued at $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. 0.44% of the stock is currently owned by insiders.

WEC Energy Group Stock Up 3.0 %

Shares of NYSE:WEC opened at $106.89 on Monday. The firm has a fifty day moving average price of $100.03 and a two-hundred day moving average price of $97.58. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $108.87. The company has a market cap of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $90.00 to $98.00 in a research note on Thursday, December 12th. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $101.88.

WEC Energy Group 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.