MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,298 shares of the utilities provider’s stock after selling 2,914 shares during the period. Ameriprise Financial Inc. owned about 0.30% of MGE Energy worth $10,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider’s stock valued at $72,314,000 after buying an additional 2,225 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of MGE Energy by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock worth $40,673,000 after acquiring an additional 7,416 shares in the last quarter. Northern Trust Corp increased its holdings in shares of MGE Energy by 6.7% in the 4th quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider’s stock valued at $36,938,000 after acquiring an additional 24,605 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of MGE Energy by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider’s stock worth $17,988,000 after acquiring an additional 7,554 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of MGE Energy by 145.0% during the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock worth $13,719,000 after acquiring an additional 86,423 shares in the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Insider Activity

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the purchase, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. This trade represents a 4.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

MGE Energy Stock Up 1.0%

MGE Energy stock opened at $93.48 on Tuesday. The company has a market capitalization of $3.42 billion, a P/E ratio of 28.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. MGE Energy, Inc. has a fifty-two week low of $72.27 and a fifty-two week high of $109.22. The stock has a 50-day simple moving average of $90.89 and a 200-day simple moving average of $93.51.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Equities research analysts expect that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, April 23rd. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Friday, May 9th.

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.