US Bancorp DE lowered its position in shares of MGE Energy, Inc. (NASDAQ:MGEE – Free Report) by 7.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,859 shares of the utilities provider’s stock after selling 3,092 shares during the period. US Bancorp DE owned about 0.10% of MGE Energy worth $2,785,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of MGEE. T. Rowe Price Investment Management Inc. grew its position in MGE Energy by 9.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,663,504 shares of the utilities provider’s stock worth $187,511,000 after acquiring an additional 222,061 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MGE Energy by 9.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,314,802 shares of the utilities provider’s stock worth $180,161,000 after acquiring an additional 191,995 shares during the period. State Street Corp boosted its holdings in MGE Energy by 15.7% in the first quarter. State Street Corp now owns 983,186 shares of the utilities provider’s stock valued at $78,448,000 after acquiring an additional 133,267 shares during the last quarter. Millennium Management LLC increased its position in MGE Energy by 2,818.9% during the 2nd quarter. Millennium Management LLC now owns 78,110 shares of the utilities provider’s stock valued at $6,079,000 after purchasing an additional 75,434 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in MGE Energy during the 2nd quarter worth approximately $4,452,000. Institutional investors own 51.59% of the company’s stock.
MGE Energy Price Performance
MGE Energy stock opened at $74.12 on Friday. The stock’s 50 day moving average price is $78.34 and its two-hundred day moving average price is $76.00. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 4.13 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 1.40. MGE Energy, Inc. has a 52-week low of $61.67 and a 52-week high of $86.10.
MGE Energy (NASDAQ:MGEE – Get Free Report) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. MGE Energy had a net margin of 15.94% and a return on equity of 10.49%. The company had revenue of $148.00 million for the quarter, compared to the consensus estimate of $157.06 million. On average, equities analysts predict that MGE Energy, Inc. will post 3.32 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. StockNews.com initiated coverage on shares of MGE Energy in a research note on Thursday. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on MGE Energy from $68.00 to $67.00 and set an “underweight” rating for the company in a report on Friday, July 21st.
Check Out Our Latest Report on MGEE
MGE Energy Profile
MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. 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; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.
See Also
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