Raymond James Financial Inc. Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

Raymond James Financial Inc. acquired a new position in MGE Energy, Inc. (NASDAQ:MGEE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,308 shares of the utilities provider’s stock, valued at approximately $781,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after buying an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 168 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 929 shares during the period. KBC Group NV lifted its position in shares of MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 360 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of MGE Energy by 7,321.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 1,684 shares during the period. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGEE shares. Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a research report on Wednesday, April 23rd. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research note on Monday, March 17th.

Insider Activity at MGE Energy

In other news, Director James G. Berbee acquired 446 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, the director now owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by insiders.

MGE Energy Trading Up 0.8 %

MGE Energy stock opened at $91.62 on Wednesday. MGE Energy, Inc. has a 12 month low of $72.27 and a 12 month high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $90.85 and a two-hundred day moving average price of $93.46. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 28.02 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $171.42 million for the quarter. As a group, equities analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy 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.