IHT Wealth Management LLC Takes $290,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

IHT Wealth Management LLC bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,088 shares of the utilities provider's stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in MGE Energy by 88.9% in the fourth 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. Sterling Capital Management LLC lifted its stake in shares of MGE Energy by 656.2% during the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after purchasing an additional 584 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares during the period. Finally, KBC Group NV grew its stake 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 valued at $139,000 after buying an additional 360 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

Analysts Set New Price Targets

MGEE has been the subject of a number of analyst reports. Morgan Stanley upped their price target on MGE Energy from $78.00 to $80.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research note on Monday, March 17th.

Insider Activity

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now owns 11,532 shares of the company's stock, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

MGE Energy Price Performance

MGEE stock opened at $89.85 on Monday. The stock's 50 day moving average is $91.05 and its two-hundred day moving average is $93.54. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The company has a market capitalization of $3.28 billion, a PE ratio of 27.48 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (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 company had revenue of $171.42 million during the quarter. Analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Company 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.

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