Prosperity Consulting Group LLC Sells 1,309 Shares of WEC Energy Group, Inc. $WEC

Prosperity Consulting Group LLC lowered its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,412 shares of the utilities provider’s stock after selling 1,309 shares during the quarter. Prosperity Consulting Group LLC’s holdings in WEC Energy Group were worth $3,169,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of WEC Energy Group in the 1st quarter worth $403,372,000. Charles Schwab Investment Management Inc. boosted its position in shares of WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock worth $567,727,000 after purchasing an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock worth $556,191,000 after purchasing an additional 726,267 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock worth $77,290,000 after purchasing an additional 665,681 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock worth $274,564,000 after purchasing an additional 430,269 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada set a $131.00 price target on WEC Energy Group in a research report on Monday, October 27th. Scotiabank raised their price target on WEC Energy Group from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. LADENBURG THALM/SH SH upgraded WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday, October 13th. Mizuho set a $125.00 target price on WEC Energy Group in a research note on Monday, October 27th. Finally, Citigroup assumed coverage on WEC Energy Group in a research note on Friday, October 3rd. They issued a “buy” rating and a $131.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.21.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 1,620 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $111.00, for a total transaction of $179,820.00. Following the transaction, the director owned 20,360 shares in the company, valued at approximately $2,259,960. This trade represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $110.88, for a total value of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $110.62 on Tuesday. The business’s 50 day moving average price is $111.99 and its two-hundred day moving average price is $108.70. The company has a market cap of $35.61 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 3.15 and a beta of 0.48. The company has a quick ratio of 0.33, a current ratio of 0.50 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $118.18.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share for the quarter. The firm had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.60% and a net margin of 17.75%. On average, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a dividend of $0.8925 per share. The ex-dividend date is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. WEC Energy Group’s dividend payout ratio (DPR) is 67.49%.

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.