Mirae Asset Global Investments Co. Ltd. Acquires 1,011 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Mirae Asset Global Investments Co. Ltd. increased its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,863 shares of the utilities provider’s stock after purchasing an additional 1,011 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MGE Energy were worth $1,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MGEE. Covestor Ltd raised its stake 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. Quantbot Technologies LP bought a new stake in MGE Energy during the 3rd quarter worth approximately $47,000. Raymond James & Associates purchased a new position in MGE Energy during the third quarter valued at approximately $202,000. Milestone Investment Advisors LLC bought a new position in shares of MGE Energy in the third quarter worth approximately $225,000. Finally, Keybank National Association OH increased its stake 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 purchasing an additional 165 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James G. Berbee purchased 458 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was acquired 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 approximately $799,006. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

MGE Energy Trading Down 0.5 %

MGE Energy stock opened at $77.40 on Tuesday. 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 firm’s 50 day moving average price is $73.57 and its 200-day moving average price is $72.00. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $83.27. The stock has a market cap of $2.80 billion, a P/E ratio of 23.82 and a beta of 0.72.

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 company had revenue of $164.65 million during the quarter, compared to the consensus estimate of $190.55 million. On average, equities analysts predict that MGE Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MGEE shares. TheStreet cut shares of MGE Energy from a “b” rating to a “c+” rating in a research note 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 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.