MGE Energy, Inc. (NASDAQ:MGEE) Stake Lessened by Legal & General Group Plc

Legal & General Group Plc reduced its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,214 shares of the utilities provider's stock after selling 6,511 shares during the quarter. Legal & General Group Plc owned 0.58% of MGE Energy worth $19,564,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of 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 purchasing an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in MGE Energy by 88.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after buying an additional 168 shares during the period. Smartleaf Asset Management LLC lifted its holdings in MGE Energy by 507.7% in the 4th 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 in the last quarter. KBC Group NV boosted its position in MGE Energy by 32.2% in the 4th 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 during the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 valued at $160,000 after acquiring an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Stock Up 0.3 %

Shares of MGEE stock traded up $0.26 during trading hours on Friday, hitting $90.58. 98,300 shares of the company were exchanged, compared to its average volume of 143,455. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 27.70 and a beta of 0.71. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22. The business's 50-day simple moving average is $90.98 and its two-hundred day simple moving average is $93.48. 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 (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.23). The business had revenue of $171.42 million for the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Sell-side analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director James G. Berbee bought 446 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, the director now directly owns 11,532 shares of the company's stock, valued at $1,047,451.56. This represents a 4.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company's stock.

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.