Thrive Wealth Management LLC Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Thrive Wealth Management LLC decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,408 shares of the utilities provider’s stock after selling 144 shares during the period. Thrive Wealth Management LLC’s holdings in WEC Energy Group were worth $509,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WEC. Massmutual Trust Co. FSB ADV grew its holdings in shares of WEC Energy Group by 5.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,248 shares of the utilities provider’s stock valued at $216,000 after buying an additional 111 shares during the last quarter. Tsfg LLC raised its position in WEC Energy Group by 4.6% during the fourth quarter. Tsfg LLC now owns 2,699 shares of the utilities provider’s stock worth $254,000 after acquiring an additional 119 shares during the period. Drake & Associates LLC lifted its position in shares of WEC Energy Group by 2.0% in the third quarter. Drake & Associates LLC now owns 6,216 shares of the utilities provider’s stock valued at $598,000 after acquiring an additional 120 shares in the last quarter. Park National Corp OH lifted its stake in shares of WEC Energy Group by 3.4% in the third quarter. Park National Corp OH now owns 3,964 shares of the utilities provider’s stock worth $381,000 after buying an additional 130 shares in the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of WEC Energy Group by 20.7% in the third quarter. Concord Wealth Partners now owns 777 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WEC shares. KeyCorp lifted their price objective 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 raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets increased their target price on shares of WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research note on Monday, December 2nd. Scotiabank raised their target price on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research note on Monday, December 9th. Finally, Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $98.40.

Read Our Latest Research Report on WEC Energy Group

WEC Energy Group Stock Up 0.8 %

Shares of WEC Energy Group stock opened at $99.18 on Monday. The firm has a market cap of $31.37 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.36 and a beta of 0.48. The business has a 50-day moving average price of $96.65 and a 200 day moving average price of $93.15. 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 fifty-two week low of $75.13 and a fifty-two week high of $102.79.

WEC Energy Group (NYSE:WECGet Free Report) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 4.89 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.835 per share. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

Insider Activity at WEC Energy Group

In related news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the sale, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This represents a 12.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gale E. Klappa sold 1,805 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $99.40, for a total value of $179,417.00. Following the completion of the transaction, the director now owns 273,248 shares in the company, valued at $27,160,851.20. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,794 shares of company stock worth $4,866,579 over the last ninety days. 0.44% of the stock is currently owned by corporate insiders.

WEC Energy Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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