Macquarie Group Ltd. Sells 2,600 Shares of MGE Energy, Inc. (MGEE)

Macquarie Group Ltd. reduced its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 44.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,300 shares of the utilities provider’s stock after selling 2,600 shares during the period. Macquarie Group Ltd.’s holdings in MGE Energy were worth $198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in shares of MGE Energy during the fourth quarter worth $54,000. Strs Ohio acquired a new position in shares of MGE Energy during the fourth quarter worth $125,000. FMR LLC acquired a new position in shares of MGE Energy during the third quarter worth $175,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of MGE Energy during the fourth quarter worth $210,000. Finally, Virtu Financial LLC acquired a new position in shares of MGE Energy during the fourth quarter worth $238,000. 41.14% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub cut shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th.

MGEE opened at $66.86 on Wednesday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 27.83 and a beta of 0.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.65 and a current ratio of 1.99. MGE Energy, Inc. has a 12-month low of $55.30 and a 12-month high of $68.95.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Friday, February 22nd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter. The firm had revenue of $140.08 million for the quarter. MGE Energy had a net margin of 15.05% and a return on equity of 10.49%.

In related news, Chairman Jeffrey M. Keebler purchased 525 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were purchased at an average cost of $66.62 per share, with a total value of $34,975.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Macquarie Group Ltd. Sells 2,600 Shares of MGE Energy, Inc. (MGEE)” was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.thelincolnianonline.com/2019/04/17/macquarie-group-ltd-sells-2600-shares-of-mge-energy-inc-mgee.html.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

Read More: What is a short straddle?

Want to see what other hedge funds are holding MGEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGE Energy, Inc. (NASDAQ:MGEE).

Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

Receive News & Ratings for MGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.