Madison Wealth Partners Inc Acquires Shares of 31,812 MGE Energy Inc. $MGEE

Madison Wealth Partners Inc bought a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) in the second quarter, HoldingsChannel reports. The firm bought 31,812 shares of the utilities provider’s stock, valued at approximately $2,594,000.

Other institutional investors also recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its stake in MGE Energy by 3.5% in the 1st quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider’s stock worth $337,000 after purchasing an additional 148 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of MGE Energy by 28.6% in the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 159 shares during the last quarter. LPL Financial LLC lifted its position in shares of MGE Energy by 0.8% in the fourth quarter. LPL Financial LLC now owns 21,178 shares of the utilities provider’s stock worth $1,661,000 after buying an additional 159 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of MGE Energy by 63.8% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after buying an additional 162 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in MGE Energy by 2.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,361 shares of the utilities provider’s stock valued at $656,000 after buying an additional 168 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGEE. Morgan Stanley cut their price target on MGE Energy from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Finally, LADENBURG THALM/SH SH upgraded MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.50.

MGE Energy Stock Down 2.3%

Shares of NASDAQ:MGEE opened at $78.66 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 12 month low of $72.16 and a 12 month high of $88.01. The company has a 50-day moving average price of $80.51 and a 200 day moving average price of $78.83. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 19.33 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%.The company had revenue of $161.19 million for the quarter, compared to analysts’ expectations of $166.37 million. As a group, equities research analysts predict that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.