Prosperity Consulting Group LLC Sells 16,471 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Prosperity Consulting Group LLC decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 31.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,648 shares of the utilities provider’s stock after selling 16,471 shares during the quarter. Prosperity Consulting Group LLC’s holdings in WEC Energy Group were worth $2,797,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Alley Investment Management Company LLC lifted its stake in shares of WEC Energy Group by 324.5% during the 4th quarter. Alley Investment Management Company LLC now owns 39,256 shares of the utilities provider’s stock valued at $3,304,000 after buying an additional 30,009 shares in the last quarter. Advisory Services Network LLC lifted its stake in WEC Energy Group by 34.0% in the 4th quarter. Advisory Services Network LLC now owns 37,561 shares of the utilities provider’s stock worth $3,162,000 after purchasing an additional 9,526 shares in the last quarter. Lantz Financial LLC lifted its stake in WEC Energy Group by 324.9% in the 1st quarter. Lantz Financial LLC now owns 28,454 shares of the utilities provider’s stock worth $2,337,000 after purchasing an additional 21,758 shares in the last quarter. Quadrature Capital Ltd lifted its stake in WEC Energy Group by 18.2% in the 4th quarter. Quadrature Capital Ltd now owns 38,980 shares of the utilities provider’s stock worth $3,282,000 after purchasing an additional 5,994 shares in the last quarter. Finally, Brookstone Capital Management lifted its stake in WEC Energy Group by 789.0% in the 1st quarter. Brookstone Capital Management now owns 125,219 shares of the utilities provider’s stock worth $10,283,000 after purchasing an additional 111,134 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, VP Anthony Reese sold 1,362 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction 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 $129,796.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at $213,335.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction on 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 owns 1,462 shares of the company’s stock, valued at $129,796.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,702 shares of company stock valued at $1,078,058. Company insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC stock opened at $95.84 on Friday. The company’s 50-day simple moving average is $88.15 and its two-hundred day simple moving average is $83.33. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.15. The company has a market capitalization of $30.29 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.44 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.74 and a quick ratio of 0.54.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 4.88 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were given a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 annualized dividend and a dividend yield of 3.48%. WEC Energy Group’s payout ratio is presently 72.93%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WEC shares. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Scotiabank boosted their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Barclays boosted their target price on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. Finally, Bank of America upped their price target on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.17.

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.