Allspring Global Investments Holdings LLC Reduces Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Allspring Global Investments Holdings LLC cut its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 48.5% in the 4th quarter, HoldingsChannel reports. The fund owned 11,313 shares of the utilities provider’s stock after selling 10,642 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MGE Energy were worth $818,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MGEE. Arizona State Retirement System raised its position in MGE Energy by 1.4% during the 3rd 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 during the last quarter. Covestor Ltd raised its position 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. Keybank National Association OH raised its position in MGE Energy by 4.2% during the 3rd quarter. Keybank National Association OH now owns 4,115 shares of the utilities provider’s stock valued at $282,000 after purchasing an additional 165 shares during the last quarter. Magellan Asset Management Ltd raised its position in MGE Energy by 1.1% during the 3rd quarter. Magellan Asset Management Ltd now owns 25,862 shares of the utilities provider’s stock valued at $1,772,000 after purchasing an additional 287 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in MGE Energy by 8.6% during the 3rd quarter. IFM Investors Pty Ltd now owns 4,861 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 383 shares during the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee bought 458 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

MGE Energy Stock Up 1.0 %

Shares of NASDAQ:MGEE opened at $78.97 on Thursday. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $83.27. The firm has a market capitalization of $2.86 billion, a P/E ratio of 24.30 and a beta of 0.72. The stock has a 50 day moving average price of $73.85 and a 200-day moving average price of $72.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.05 and a current ratio of 1.52.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) 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 firm had revenue of $164.65 million during the quarter, compared to the consensus estimate of $190.55 million. As a group, equities research analysts anticipate that MGE Energy, Inc. will post 3.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on MGEE. StockNews.com lowered MGE Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. TheStreet lowered MGE Energy from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th.

About MGE Energy

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.