Tyche Wealth Partners LLC Sells 7,438 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Tyche Wealth Partners LLC trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 78.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,079 shares of the utilities provider's stock after selling 7,438 shares during the period. Tyche Wealth Partners LLC's holdings in WEC Energy Group were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WEC. Sowell Financial Services LLC purchased a new position in shares of WEC Energy Group during the 1st quarter worth $325,000. CWA Asset Management Group LLC raised its holdings in WEC Energy Group by 5.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after purchasing an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in WEC Energy Group by 16.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 245,016 shares of the utilities provider's stock valued at $26,702,000 after purchasing an additional 34,986 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in WEC Energy Group during the first quarter valued at about $522,000. Finally, Kingswood Wealth Advisors LLC grew its holdings in WEC Energy Group by 17.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 2,760 shares of the utilities provider's stock valued at $301,000 after purchasing an additional 411 shares during the period. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president now directly owns 2,686 shares of the company's stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

Shares of WEC stock traded down $0.23 during mid-day trading on Friday, hitting $103.09. The company had a trading volume of 1,851,105 shares, compared to its average volume of 2,144,850. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.40. The stock's 50 day moving average price is $106.44 and its 200-day moving average price is $103.12. WEC Energy Group, Inc. has a 52-week low of $77.47 and a 52-week high of $111.00. The company has a market capitalization of $32.90 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.84 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.95% and a return on equity of 12.94%. The business's revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. Equities research analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 14th were paid a dividend of $0.8975 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This is a positive change from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a yield of 3.48%. WEC Energy Group's dividend payout ratio is presently 69.59%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WEC shares. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays lifted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an "equal weight" rating in a report on Tuesday, April 29th. Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $106.00 to $108.00 in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group downgraded shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $106.00 to $100.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $106.33.

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.