Northern Trust Corp Increases Position in MGE Energy, Inc. (NASDAQ:MGEE)

Northern Trust Corp increased its position in MGE Energy, Inc. (NASDAQ:MGEE) by 6.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 393,127 shares of the utilities provider’s stock after buying an additional 24,605 shares during the period. Northern Trust Corp’s holdings in MGE Energy were worth $36,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 168 shares during the period. Sterling Capital Management LLC raised its position in MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after buying an additional 584 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in MGE Energy by 507.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 929 shares during the period. KBC Group NV boosted its holdings in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 360 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of MGE Energy by 7,321.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 1,684 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Insider Buying and Selling

In related news, Director James G. Berbee bought 446 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on MGEE shares. Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a report on Wednesday, April 23rd. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Monday, March 17th.

MGE Energy Stock Performance

Shares of NASDAQ MGEE opened at $91.08 on Friday. The company has a market capitalization of $3.33 billion, a PE ratio of 27.85 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The company’s fifty day moving average price is $90.82 and its 200 day moving average price is $93.44. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. On average, research analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Company Profile

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.