Strs Ohio Sells 500 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Strs Ohio trimmed its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,000 shares of the utilities provider’s stock after selling 500 shares during the quarter. Strs Ohio’s holdings in MGE Energy were worth $1,012,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in MGE Energy by 31.6% during the 3rd quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 154 shares during the last quarter. Quantbot Technologies LP bought a new position in MGE Energy during the 3rd quarter valued at about $47,000. Raymond James & Associates bought a new position in MGE Energy during the 3rd quarter valued at about $202,000. Milestone Investment Advisors LLC purchased a new stake in MGE Energy in the 3rd quarter valued at about $225,000. Finally, Keybank National Association OH boosted its position in MGE Energy by 4.2% in the 3rd quarter. Keybank National Association OH now owns 4,115 shares of the utilities provider’s stock valued at $282,000 after buying an additional 165 shares during the period. 52.58% of the stock is currently owned by institutional investors.

Insider Transactions at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 458 shares of the stock in a transaction dated Wednesday, March 6th. The stock was purchased at an average price of $82.16 per share, with a total value of $37,629.28. Following the transaction, the director now owns 9,725 shares of the company’s stock, valued at $799,006. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MGEE shares. TheStreet cut shares of MGE Energy from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th. StockNews.com cut shares of MGE Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd.

MGE Energy Price Performance

MGE Energy stock opened at $78.21 on Wednesday. The stock has a market cap of $2.83 billion, a price-to-earnings 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. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $83.27. The firm has a 50-day moving average of $73.57 and a two-hundred day moving average of $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 for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a return on equity of 10.49% and a net margin of 17.05%. The business had revenue of $164.65 million during the quarter, compared to analysts’ expectations of $190.55 million. On average, research analysts forecast that MGE Energy, Inc. will post 3.68 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.