MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,110 shares of the utilities provider’s stock after selling 186 shares during the period. Arizona State Retirement System’s holdings in MGE Energy were worth $731,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MGEE. Alps Advisors Inc. increased its position in shares of MGE Energy by 27.5% in the third quarter. Alps Advisors Inc. now owns 5,626 shares of the utilities provider’s stock valued at $385,000 after buying an additional 1,215 shares in the last quarter. Victory Capital Management Inc. raised its position in MGE Energy by 4.4% during the third quarter. Victory Capital Management Inc. now owns 1,169,321 shares of the utilities provider’s stock worth $80,110,000 after acquiring an additional 49,220 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of MGE Energy by 2,966.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 21,955 shares of the utilities provider’s stock valued at $1,504,000 after purchasing an additional 21,239 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of MGE Energy by 42.0% in the third quarter. Commonwealth Equity Services LLC now owns 49,299 shares of the utilities provider’s stock valued at $3,378,000 after purchasing an additional 14,574 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of MGE Energy by 39.4% during the 3rd quarter. Strs Ohio now owns 14,500 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 4,100 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MGE Energy news, Director James G. Berbee purchased 458 shares of the stock in a transaction on Wednesday, March 6th. The stock was bought at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the acquisition, the director now directly owns 9,725 shares of the company’s stock, valued at $799,006. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TheStreet cut MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. StockNews.com lowered MGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $75.85 on Friday. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $83.27. The firm has a 50 day simple moving average of $73.10 and a 200-day simple moving average of $71.83. The firm has a market cap of $2.74 billion, a PE ratio of 23.34 and a beta of 0.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.52 and a quick ratio of 1.05.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. The business had revenue of $164.65 million during the quarter, compared to analyst estimates of $190.55 million. On average, equities analysts expect that MGE Energy, Inc. will post 3.68 EPS for the current year.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.