MGE Energy Inc. $MGEE Shares Sold by UBS Group AG

UBS Group AG decreased its position in MGE Energy Inc. (NASDAQ:MGEE) by 37.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,149 shares of the utilities provider’s stock after selling 53,736 shares during the quarter. UBS Group AG’s holdings in MGE Energy were worth $7,069,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MGEE. AQR Capital Management LLC raised its holdings in MGE Energy by 18.8% in the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock valued at $769,000 after acquiring an additional 1,312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in MGE Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after acquiring an additional 954 shares in the last quarter. United Services Automobile Association acquired a new stake in MGE Energy in the first quarter valued at approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MGE Energy by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock valued at $8,051,000 after acquiring an additional 13,715 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in MGE Energy by 718.5% in the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after acquiring an additional 65,843 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

MGEE has been the topic of several analyst reports. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Friday, May 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a report on Monday, April 27th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $80.50.

Insider Buying and Selling

In related news, Director James G. Berbee purchased 373 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the purchase, the director directly owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This trade represents a 4.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $75.60 on Wednesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of 19.38 and a beta of 0.76. MGE Energy Inc. has a 52 week low of $72.17 and a 52 week high of $94.00. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $77.27 and its two-hundred day moving average is $79.36.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. The company had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. Research analysts forecast that MGE Energy Inc. will post 3.94 EPS for the current fiscal year.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.