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

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

Several other hedge funds have also recently added to or reduced their stakes in WEC. Wellington Management Group LLP boosted its position in shares of WEC Energy Group by 134.2% in the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider’s stock valued at $1,038,931,000 after purchasing an additional 6,329,574 shares during the period. Raymond James Financial Inc. acquired a new position in shares of WEC Energy Group in the fourth quarter worth about $188,879,000. JPMorgan Chase & Co. increased its position in shares of WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares in the last quarter. Donaldson Capital Management LLC acquired a new stake in shares of WEC Energy Group during the fourth quarter valued at approximately $36,421,000. Finally, Retirement Systems of Alabama lifted its position in shares of WEC Energy Group by 518.8% in the 3rd quarter. Retirement Systems of Alabama now owns 431,103 shares of the utilities provider’s stock valued at $41,463,000 after acquiring an additional 361,434 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of WEC opened at $104.37 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm has a market cap of $33.30 billion, a PE ratio of 21.61, a PEG ratio of 2.60 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $111.00. The firm’s 50 day moving average price is $104.53 and its 200 day moving average price is $99.32.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. As a group, research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the company’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 sale, the director now owns 274,955 shares of the company’s stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the 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 transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WEC has been the topic of several recent analyst reports. Barclays raised shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a research note on Thursday, January 2nd. BMO Capital Markets increased their price objective on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Scotiabank raised their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, Wells Fargo & Company boosted their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.88.

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.