Thrive Wealth Management LLC Has $534,000 Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Thrive Wealth Management LLC increased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,552 shares of the utilities provider’s stock after purchasing an additional 165 shares during the quarter. Thrive Wealth Management LLC’s holdings in WEC Energy Group were worth $534,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Northwest Bank & Trust Co bought a new stake in WEC Energy Group in the 4th quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the first quarter worth about $25,000. Global X Japan Co. Ltd. grew its holdings in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after buying an additional 118 shares in the last quarter. Olistico Wealth LLC acquired a new stake in WEC Energy Group in the 2nd quarter valued at approximately $29,000. Finally, William B. Walkup & Associates Inc. bought a new stake in WEC Energy Group in the 2nd quarter valued at approximately $31,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

WEC Energy Group Stock Performance

Shares of NYSE:WEC traded down $0.83 on Friday, hitting $95.48. The company had a trading volume of 1,460,838 shares, compared to its average volume of 2,152,547. The stock has a market cap of $30.18 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.48 and a beta of 0.44. The stock has a 50 day moving average price of $92.45 and a 200 day moving average price of $84.93. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $97.08. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm earned $0.92 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Wednesday, August 14th. WEC Energy Group’s dividend payout ratio is 72.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WEC shares. Bank of America raised their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Barclays lifted their price target on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Jefferies Financial Group started coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 target price on the stock. Finally, KeyCorp increased their price target on WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.69.

Insiders Place Their Bets

In other news, VP Anthony Reese sold 1,362 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total value of $120,918.36. Following the completion of the sale, the vice president now owns 1,462 shares of the company’s stock, valued at approximately $129,796.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $88.45, for a total transaction of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anthony Reese sold 1,362 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.78, for a total transaction of $120,918.36. Following the sale, the vice president now directly owns 1,462 shares of the company’s stock, valued at $129,796.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock worth $1,078,058 in the last 90 days. Company insiders own 0.34% of the company’s stock.

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.