North Star Asset Management Inc. Takes $227,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

North Star Asset Management Inc. bought a new position in MGE Energy, Inc. (NASDAQ:MGEE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,146 shares of the utilities provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Walkner Condon Financial Advisors LLC bought a new stake in shares of MGE Energy during the third quarter valued at approximately $2,146,000. Commonwealth Equity Services LLC lifted its holdings in shares of MGE Energy by 42.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 49,299 shares of the utilities provider’s stock worth $3,378,000 after buying an additional 14,574 shares during the period. Raymond James & Associates bought a new position in shares of MGE Energy during the 3rd quarter worth $202,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of MGE Energy by 11.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,015 shares of the utilities provider’s stock valued at $481,000 after buying an additional 742 shares during the period. Finally, NorthRock Partners LLC raised its holdings in shares of MGE Energy by 291.1% in the third quarter. NorthRock Partners LLC now owns 10,560 shares of the utilities provider’s stock valued at $723,000 after acquiring an additional 7,860 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director James G. Berbee acquired 458 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the purchase, the director now directly owns 9,725 shares in the company, valued at approximately $799,006. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

MGE Energy Trading Down 0.5 %

Shares of NASDAQ:MGEE opened at $77.40 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2.80 billion, a PE ratio of 23.82 and a beta of 0.72. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $83.27. The business’s fifty day simple moving average is $73.57 and its 200-day simple moving average is $72.00.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.06). The company had revenue of $164.65 million during the quarter, compared to analysts’ expectations of $190.55 million. MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. As a group, equities research analysts predict that MGE Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. TheStreet downgraded shares of MGE Energy from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th. StockNews.com downgraded shares of MGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd.

MGE Energy 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.