Prosperity Consulting Group LLC Sells 1,442 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Prosperity Consulting Group LLC trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,721 shares of the utilities provider’s stock after selling 1,442 shares during the quarter. Prosperity Consulting Group LLC’s holdings in WEC Energy Group were worth $3,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP grew its position in WEC Energy Group by 134.2% during the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock worth $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Geode Capital Management LLC grew its position in WEC Energy Group by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider’s stock worth $756,423,000 after acquiring an additional 110,802 shares during the last quarter. Deutsche Bank AG grew its position in WEC Energy Group by 3.1% during the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider’s stock worth $538,112,000 after acquiring an additional 173,006 shares during the last quarter. Invesco Ltd. grew its position in WEC Energy Group by 7.9% during the 4th quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider’s stock worth $396,114,000 after acquiring an additional 309,697 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in WEC Energy Group by 15.4% during the 4th quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider’s stock worth $370,128,000 after acquiring an additional 526,014 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen lowered WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. upgraded WEC Energy Group from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Finally, UBS Group increased their price objective on WEC Energy Group from $105.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $106.40.

Insider Activity at WEC Energy Group

In other news, VP Joshua M. Erickson sold 2,155 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Trading Down 0.0%

WEC opened at $109.53 on Monday. The stock has a market cap of $34.95 billion, a PE ratio of 21.35, a PEG ratio of 3.01 and a beta of 0.44. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average of $105.75 and a 200-day moving average of $104.93. WEC Energy Group, Inc. has a 52 week low of $83.13 and a 52 week high of $111.00.

WEC Energy Group (NYSE:WEC) last released its earnings results on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $2.81 billion. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 EPS. Equities research analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Thursday, August 14th. WEC Energy Group’s payout ratio is presently 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.