Strs Ohio Lowers Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Strs Ohio decreased its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,000 shares of the utilities provider’s stock after selling 500 shares during the period. Strs Ohio’s holdings in MGE Energy were worth $1,012,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System raised its position in MGE Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 10,296 shares of the utilities provider’s stock valued at $705,000 after purchasing an additional 138 shares in the last quarter. Covestor Ltd increased its holdings in shares of MGE Energy by 31.6% in the third quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock worth $44,000 after buying an additional 154 shares during the period. Keybank National Association OH increased its holdings in shares of MGE Energy by 4.2% in the third quarter. Keybank National Association OH now owns 4,115 shares of the utilities provider’s stock worth $282,000 after buying an additional 165 shares during the period. Magellan Asset Management Ltd increased its holdings in shares of MGE Energy by 1.1% in the third quarter. Magellan Asset Management Ltd now owns 25,862 shares of the utilities provider’s stock worth $1,772,000 after buying an additional 287 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in shares of MGE Energy by 8.6% in the third quarter. IFM Investors Pty Ltd now owns 4,861 shares of the utilities provider’s stock worth $333,000 after buying an additional 383 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Up 1.0 %

Shares of NASDAQ:MGEE opened at $78.21 on Wednesday. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $83.27. The company has a market cap of $2.83 billion, a PE ratio of 24.06 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. The stock’s 50-day moving average is $73.57 and its 200 day moving average is $72.00.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $190.55 million. Sell-side analysts anticipate that MGE Energy, Inc. will post 3.68 EPS for the current year.

Analyst Ratings Changes

MGEE has been the topic of several analyst reports. TheStreet downgraded MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. StockNews.com downgraded MGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd.

Insider Activity at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 458 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 in the company, valued at $799,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company insiders.

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.