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

Thrive Wealth Management LLC lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,286 shares of the utilities provider’s stock after selling 122 shares during the period. Thrive Wealth Management LLC’s holdings in WEC Energy Group were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after purchasing an additional 699,177 shares during the period. Caprock Group LLC bought a new position in WEC Energy Group in the 4th quarter valued at about $249,000. Tokio Marine Asset Management Co. Ltd. lifted its position in WEC Energy Group by 6.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,145 shares of the utilities provider’s stock worth $766,000 after acquiring an additional 466 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of WEC Energy Group by 4.8% during the fourth quarter. DAVENPORT & Co LLC now owns 23,045 shares of the utilities provider’s stock worth $2,167,000 after acquiring an additional 1,064 shares during the period. Finally, Greenleaf Trust increased its stake in shares of WEC Energy Group by 4.4% during the fourth quarter. Greenleaf Trust now owns 8,145 shares of the utilities provider’s stock worth $766,000 after purchasing an additional 342 shares during the period. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the transaction, the vice president now owns 2,686 shares in the company, valued at $289,470.22. The trade was a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WEC. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Wells Fargo & Company increased their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. Barclays boosted their price target on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. Finally, BMO Capital Markets raised their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and a consensus target price of $107.13.

WEC Energy Group Trading Down 1.5%

Shares of WEC stock opened at $105.78 on Thursday. WEC Energy Group, Inc. has a fifty-two week low of $77.47 and a fifty-two week high of $111.00. The stock’s fifty day moving average price is $107.00 and its two-hundred day moving average price is $102.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The company has a market cap of $33.76 billion, a PE ratio of 21.90, a P/E/G ratio of 2.60 and a beta of 0.46.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. Equities analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were given a dividend of $0.8975 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.59 dividend on an annualized basis and a yield of 3.39%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. WEC Energy Group’s payout ratio is currently 69.59%.

About WEC Energy Group

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.