OneAscent Financial Services LLC Invests $209,000 in WEC Energy Group, Inc. (NYSE:WEC)

OneAscent Financial Services LLC acquired a new position in WEC Energy Group, Inc. (NYSE:WEC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,220 shares of the utilities provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Annex Advisory Services LLC increased its holdings in shares of WEC Energy Group by 6.5% during the 4th quarter. Annex Advisory Services LLC now owns 110,644 shares of the utilities provider’s stock worth $10,405,000 after purchasing an additional 6,785 shares during the period. Matrix Trust Co bought a new position in WEC Energy Group during the fourth quarter valued at about $1,538,000. Gateway Investment Advisers LLC raised its holdings in WEC Energy Group by 20.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 453,945 shares of the utilities provider’s stock valued at $42,689,000 after acquiring an additional 78,580 shares in the last quarter. PFW Advisors LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $1,073,000. Finally, Walkner Condon Financial Advisors LLC bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $271,000. Institutional investors own 77.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Scotiabank upped their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a “sector outperform” rating in a research note on Monday, December 9th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. BMO Capital Markets increased their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Finally, Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One equities research analyst has 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.88.

Insider Activity at WEC Energy Group

In related news, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

NYSE:WEC opened at $104.37 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The firm has a market cap of $33.30 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a 12 month low of $77.47 and a 12 month high of $111.00. The company’s 50-day moving average price is $104.53 and its two-hundred day moving average price is $99.32.

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 analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter last year, the company earned $1.10 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

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.