3,198 Shares in WEC Energy Group, Inc. (NYSE:WEC) Acquired by Thrive Wealth Management LLC

Thrive Wealth Management LLC acquired a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 3,198 shares of the utilities provider’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in WEC Energy Group in the fourth quarter valued at about $983,000. Dearborn Partners LLC lifted its holdings in WEC Energy Group by 29.2% in the fourth quarter. Dearborn Partners LLC now owns 582,421 shares of the utilities provider’s stock valued at $49,022,000 after buying an additional 131,797 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in WEC Energy Group by 6.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 316,255 shares of the utilities provider’s stock worth $27,391,000 after acquiring an additional 19,867 shares during the period. Vaughan David Investments LLC IL raised its position in shares of WEC Energy Group by 3.4% during the 4th quarter. Vaughan David Investments LLC IL now owns 428,408 shares of the utilities provider’s stock valued at $36,059,000 after acquiring an additional 14,084 shares during the last quarter. Finally, Alley Investment Management Company LLC boosted its position in shares of WEC Energy Group by 324.5% in the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock worth $3,304,000 after purchasing an additional 30,009 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group began coverage on WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 target price for the company. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. KeyCorp raised their price target on WEC Energy Group from $95.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Scotiabank lowered their target price on WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating for the company in a research note on Monday, April 22nd. Finally, BMO Capital Markets lifted their price target on shares of WEC Energy Group from $89.00 to $90.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.92.

WEC Energy Group Stock Performance

WEC traded up $0.30 on Thursday, reaching $78.45. The company had a trading volume of 1,251,323 shares, compared to its average volume of 2,155,660. The stock has a market cap of $24.78 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.02 and a beta of 0.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.42 and a current ratio of 0.55. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $93.37. The company’s fifty day moving average is $81.52 and its 200 day moving average is $81.15.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.07. WEC Energy Group had a net margin of 16.67% and a return on equity of 13.01%. The business had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were given a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Monday, May 13th. WEC Energy Group’s dividend payout ratio is 72.93%.

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.