IFM Investors Pty Ltd Makes New $398,000 Investment in MGE Energy, Inc. (NASDAQ:MGEE)

IFM Investors Pty Ltd acquired a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,054 shares of the utilities provider’s stock, valued at approximately $398,000.

Other large investors have also modified their holdings of the company. Speece Thorson Capital Group Inc. acquired a new stake in MGE Energy during the 4th quarter worth $6,145,000. Victory Capital Management Inc. increased its position in shares of MGE Energy by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock worth $88,906,000 after purchasing an additional 60,190 shares in the last quarter. Walkner Condon Financial Advisors LLC purchased a new stake in shares of MGE Energy in the 3rd quarter valued at about $2,146,000. State of Alaska Department of Revenue acquired a new stake in shares of MGE Energy in the 1st quarter valued at about $1,734,000. Finally, Allspring Global Investments Holdings LLC grew its stake in MGE Energy by 2,966.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,955 shares of the utilities provider’s stock worth $1,504,000 after buying an additional 21,239 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Insider Transactions at MGE Energy

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 completion of the transaction, the director now directly owns 9,725 shares in the company, valued at $799,006. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

MGE Energy Stock Performance

MGE Energy stock traded down $1.12 during mid-day trading on Friday, reaching $77.60. 146,795 shares of the company were exchanged, compared to its average volume of 177,889. The firm’s 50-day simple moving average is $74.64 and its two-hundred day simple moving average is $72.19. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $83.27. The firm has a market cap of $2.81 billion, a PE ratio of 23.88 and a beta of 0.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.05 and a current ratio of 1.52.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a return on equity of 10.49% and a net margin of 17.05%. The company had revenue of $164.65 million for the quarter, compared to analyst estimates of $190.55 million. Equities analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MGEE shares. TheStreet downgraded MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. StockNews.com downgraded shares of MGE Energy from a “hold” rating to a “sell” rating in a research report 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.