303 Shares in WEC Energy Group, Inc. (NYSE:WEC) Purchased by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 303 shares of the utilities provider’s stock, valued at approximately $26,000.

A number of other hedge funds have also bought and sold shares of the business. Perigon Wealth Management LLC bought a new position in WEC Energy Group during the fourth quarter worth about $201,000. Valeo Financial Advisors LLC bought a new position in WEC Energy Group in the 4th quarter valued at about $278,000. Cerity Partners LLC increased its holdings in WEC Energy Group by 136.5% in the 4th quarter. Cerity Partners LLC now owns 30,751 shares of the utilities provider’s stock valued at $2,588,000 after buying an additional 17,750 shares during the period. Cedrus LLC bought a new position in WEC Energy Group in the 4th quarter valued at about $217,000. Finally, Blossom Wealth Management increased its holdings in WEC Energy Group by 18.5% in the 4th quarter. Blossom Wealth Management now owns 4,500 shares of the utilities provider’s stock valued at $379,000 after buying an additional 703 shares during the period. 77.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

WEC has been the topic of several recent analyst reports. Scotiabank decreased their target price on shares of WEC Energy Group from $96.00 to $90.00 and set a “sector outperform” rating on the stock in a report on Monday. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. KeyCorp raised their price target on shares of WEC Energy Group from $95.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. downgraded shares of WEC Energy Group from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $90.00 to $84.00 in a research note on Friday, February 2nd. Finally, Bank of America restated an “underperform” rating and issued a $78.00 price target (down from $84.00) on shares of WEC Energy Group in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $86.64.

WEC Energy Group Stock Up 0.8 %

NYSE:WEC opened at $82.63 on Thursday. The firm’s 50 day simple moving average is $80.09 and its 200 day simple moving average is $81.42. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $98.80. The company has a market cap of $26.06 billion, a PE ratio of 19.58, a P/E/G ratio of 2.83 and a beta of 0.40.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Thursday, February 1st. The utilities provider reported $1.10 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 the consensus estimate of $2.82 billion. During the same period last year, the company earned $0.80 EPS. The firm’s revenue was down 13.3% compared to the same quarter last year. On average, research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th will be given a $0.835 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 4.04%. WEC Energy Group’s dividend payout ratio (DPR) is currently 79.15%.

Insider Transactions at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the business’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 value of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of the business’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 value of $2,925,694.20. Following the transaction, the chairman now owns 274,782 shares in the company, valued at approximately $21,622,595.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 43,125 shares in the company, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

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.