Tyche Wealth Partners LLC Takes Position in WEC Energy Group, Inc. (NYSE:WEC)

Tyche Wealth Partners LLC acquired a new stake in WEC Energy Group, Inc. (NYSE:WEC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,517 shares of the utilities provider’s stock, valued at approximately $895,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WEC. Coastline Trust Co purchased a new stake in shares of WEC Energy Group in the third quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of WEC Energy Group in the third quarter valued at $45,000. Friedenthal Financial purchased a new stake in shares of WEC Energy Group in the third quarter valued at $50,000. Future Financial Wealth Managment LLC purchased a new stake in shares of WEC Energy Group in the third quarter valued at $63,000. Finally, Robbins Farley purchased a new stake in shares of WEC Energy Group in the fourth quarter valued at $64,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the sale, the chief executive officer now owns 45,709 shares in the company, valued at $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now owns 273,248 shares in the company, valued at $27,204,570.88. The trade was a 12.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WEC shares. KeyCorp boosted their price target on WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $100.56.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $101.00 on Thursday. WEC Energy Group, Inc. has a 1-year low of $75.13 and a 1-year high of $102.79. The business has a 50-day moving average of $96.62 and a 200-day moving average of $94.89. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $31.95 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.50 and a beta of 0.49.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 4.9 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

WEC Energy Group Company 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.