North Star Asset Management Inc. Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

North Star Asset Management Inc. bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,146 shares of the utilities provider’s stock, valued at approximately $227,000.

Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MGE Energy by 15.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,433 shares of the utilities provider’s stock valued at $610,000 after purchasing an additional 1,140 shares during the period. MBE Wealth Management LLC grew its position in shares of MGE Energy by 6.2% during the fourth quarter. MBE Wealth Management LLC now owns 6,805 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 398 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of MGE Energy by 7,129.0% in the 4th quarter. International Assets Investment Management LLC now owns 17,205 shares of the utilities provider’s stock valued at $1,244,000 after acquiring an additional 16,967 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in MGE Energy by 6.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,863 shares of the utilities provider’s stock valued at $1,219,000 after purchasing an additional 1,011 shares during the last quarter. Finally, Trust Point Inc. purchased a new stake in shares of MGE Energy in the fourth quarter valued at about $344,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on MGEE. TheStreet cut 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 report on Wednesday, April 3rd.

MGE Energy Stock Performance

Shares of NASDAQ MGEE opened at $77.40 on Tuesday. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $83.27. The company has a market capitalization of $2.80 billion, a P/E ratio of 23.82 and a beta of 0.72. The stock has a 50 day moving average of $73.57 and a 200-day moving average of $72.00. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $190.55 million. As a group, equities research analysts predict that MGE Energy, Inc. will post 3.68 EPS for the current year.

Insider Buying and Selling

In related news, Director James G. Berbee acquired 458 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $82.16 per share, with a total value of $37,629.28. Following the acquisition, the director now directly owns 9,725 shares of the company’s stock, valued at $799,006. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

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.