Tyche Wealth Partners LLC Invests $431,000 in WEC Energy Group, Inc. (NYSE:WEC)

Tyche Wealth Partners LLC purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,117 shares of the utilities provider’s stock, valued at approximately $431,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. lifted its stake in WEC Energy Group by 101.8% during the 4th quarter. Everence Capital Management Inc. now owns 7,950 shares of the utilities provider’s stock valued at $669,000 after acquiring an additional 4,010 shares during the period. SVB Wealth LLC purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $251,000. CTC Alternative Strategies Ltd. purchased a new stake in WEC Energy Group in the 4th quarter worth $1,989,000. Carnegie Capital Asset Management LLC purchased a new position in WEC Energy Group in the 4th quarter worth approximately $205,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $1,608,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Stock Performance

Shares of WEC stock traded down $1.10 during midday trading on Wednesday, hitting $77.79. The company had a trading volume of 1,968,329 shares, compared to its average volume of 1,519,202. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40. The stock has a market cap of $24.54 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.74 and a beta of 0.40. The company’s 50 day simple moving average is $79.61 and its 200 day simple moving average is $81.33. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $98.80.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now directly owns 274,782 shares in the company, valued at approximately $21,622,595.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total transaction of $223,258.70. Following the completion of the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WEC has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a report on Thursday, February 8th. JPMorgan Chase & Co. cut shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Bank of America restated an “underperform” rating and set a $78.00 price target (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. The Goldman Sachs Group assumed coverage on WEC Energy Group in a report on Wednesday, April 10th. They issued a “neutral” rating and a $88.00 price objective on the stock. Finally, Barclays dropped their price target on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $86.31.

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.