Wells Fargo & Company MN Has $2.69 Million Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Wells Fargo & Company MN lifted its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,661 shares of the utilities provider's stock after buying an additional 6,053 shares during the period. Wells Fargo & Company MN owned about 0.08% of MGE Energy worth $2,693,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Barclays PLC grew its stake in shares of MGE Energy by 345.8% in the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider's stock valued at $5,697,000 after buying an additional 48,330 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in MGE Energy by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider's stock valued at $5,449,000 after acquiring an additional 8,233 shares during the last quarter. Versant Capital Management Inc lifted its stake in MGE Energy by 367.1% in the fourth 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 last quarter. GAMMA Investing LLC grew its position in shares of MGE Energy by 196.1% in the 4th quarter. GAMMA Investing LLC now owns 4,657 shares of the utilities provider's stock valued at $438,000 after acquiring an additional 3,084 shares during the period. Finally, Legacy Private Trust Co. acquired a new position in shares of MGE Energy during the 4th quarter worth about $356,000. Institutional investors own 52.58% of the company's stock.

Insider Activity

In other news, Director James G. Berbee purchased 446 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

MGE Energy Stock Performance

Shares of NASDAQ:MGEE traded up $0.21 on Monday, hitting $90.06. The company had a trading volume of 92,677 shares, compared to its average volume of 141,696. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 27.54 and a beta of 0.71. The stock has a 50 day moving average price of $91.05 and a 200 day moving average price of $93.54. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.23). The company had revenue of $171.42 million during the quarter. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. Analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MGEE shares. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research note on Monday, March 17th. Morgan Stanley raised their price objective on MGE Energy from $78.00 to $80.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th.

About MGE Energy

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.