UBS Group AG Reduces Stock Holdings in MGE Energy Inc. $MGEE

UBS Group AG lowered its stake in MGE Energy Inc. (NASDAQ:MGEE) by 37.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,149 shares of the utilities provider’s stock after selling 53,736 shares during the quarter. UBS Group AG owned about 0.25% of MGE Energy worth $7,069,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in MGE Energy in the third quarter valued at about $40,000. eCIO Inc. acquired a new position in MGE Energy in the fourth quarter valued at about $45,000. Parallel Advisors LLC lifted its position in MGE Energy by 28.6% in the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after buying an additional 159 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in MGE Energy by 19.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock valued at $117,000 after buying an additional 213 shares during the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in MGE Energy in the third quarter valued at about $119,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $80.50.

Insider Activity

In other MGE Energy news, Director James G. Berbee purchased 373 shares of MGE Energy stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $77.74 per share, with a total value of $28,997.02. Following the completion of the transaction, the director owned 9,362 shares of the company’s stock, valued at $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

MGE Energy Stock Up 0.8%

Shares of MGEE opened at $75.60 on Wednesday. The stock has a market capitalization of $2.78 billion, a PE ratio of 19.38 and a beta of 0.76. MGE Energy Inc. has a 1 year low of $72.17 and a 1 year high of $94.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15. The company’s 50-day simple moving average is $77.27 and its 200-day simple moving average is $79.36.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. The business had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. Analysts forecast that MGE Energy Inc. will post 3.94 earnings per share for the current fiscal year.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.