Thrive Wealth Management LLC Sells 122 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Thrive Wealth Management LLC cut its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 2.3% during the 1st quarter, Holdings Channel reports. The firm owned 5,286 shares of the utilities provider’s stock after selling 122 shares during the quarter. Thrive Wealth Management LLC’s holdings in WEC Energy Group were worth $576,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Walkner Condon Financial Advisors LLC purchased a new position in WEC Energy Group in the fourth quarter valued at approximately $271,000. Caprock Group LLC purchased a new stake in WEC Energy Group in the fourth quarter worth $249,000. Callan Family Office LLC bought a new stake in shares of WEC Energy Group in the fourth quarter valued at $369,000. JPMorgan Chase & Co. lifted its position in shares of WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after buying an additional 699,177 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of WEC Energy Group by 23.1% during the 4th quarter. Empowered Funds LLC now owns 14,281 shares of the utilities provider’s stock worth $1,343,000 after acquiring an additional 2,680 shares during the period. 77.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $106.00 to $108.00 in a research report on Tuesday, April 8th. Barclays boosted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group presently has a consensus rating of “Hold” and an average target price of $107.13.

WEC Energy Group Trading Down 1.5%

Shares of WEC Energy Group stock opened at $105.78 on Thursday. The company’s 50-day moving average price is $107.00 and its 200-day moving average price is $102.58. The company has a market cap of $33.76 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.60 and a beta of 0.46. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.09. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the company posted $1.97 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Wednesday, May 14th were issued a $0.8975 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.39%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.59%.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total transaction of $232,244.35. Following the sale, the vice president now owns 2,686 shares in the company, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.50% of the company’s stock.

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.