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

Tyche Wealth Partners LLC bought a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,117 shares of the utilities provider’s stock, valued at approximately $431,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at about $26,000. Achmea Investment Management B.V. bought a new stake in WEC Energy Group in the 1st quarter valued at $27,000. Valued Wealth Advisors LLC acquired a new position in WEC Energy Group in the 4th quarter valued at $28,000. First Manhattan Co. increased its position in WEC Energy Group by 102.0% during the 4th quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after buying an additional 153 shares during the period. Finally, Fortitude Family Office LLC bought a new stake in shares of WEC Energy Group in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 77.20% of the company’s stock.

Insider Activity at WEC Energy Group

In related news, Chairman Gale E. Klappa sold 37,180 shares of the 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 owns 274,782 shares in the company, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other WEC Energy Group news, Chairman Gale E. Klappa sold 37,180 shares of the 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 owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.

WEC Energy Group Trading Down 1.4 %

NYSE:WEC traded down $1.10 on Wednesday, reaching $77.79. 1,968,329 shares of the stock traded hands, compared to its average volume of 1,519,202. The firm has a market capitalization of $24.54 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.74 and a beta of 0.40. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $98.80. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $79.61 and its 200-day moving average is $81.33.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a “neutral” rating and a $88.00 price target on the stock. Bank of America reiterated an “underperform” rating and set a $78.00 price objective (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Royal Bank of Canada cut their target price on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating for the company in a research note on Thursday, February 8th. Wells Fargo & Company dropped their price objective on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. cut WEC Energy Group from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $90.00 to $84.00 in a research report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, WEC Energy Group presently has a consensus 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.