Prosperity Consulting Group LLC Sells 1,700 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Prosperity Consulting Group LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,163 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. Prosperity Consulting Group LLC’s holdings in WEC Energy Group were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 268 shares during the period. Prudent Man Investment Management Inc. bought a new stake in WEC Energy Group in the fourth quarter worth $28,000. Hoey Investments Inc. bought a new position in WEC Energy Group during the fourth quarter valued at $42,000. Human Investing LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth about $52,000. Finally, Cullen Frost Bankers Inc. grew its holdings in WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 345 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Activity

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the completion of the transaction, the director now directly owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Thursday, January 2nd. BMO Capital Markets lifted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and raised their price target for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $104.38.

WEC Energy Group Trading Down 1.1 %

NYSE:WEC opened at $107.69 on Friday. The stock has a fifty day moving average price of $106.38 and a 200 day moving average price of $100.63. 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, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The firm has a market cap of $34.36 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a $0.8975 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, May 14th. WEC Energy Group’s dividend payout ratio is presently 73.91%.

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.