The Manufacturers Life Insurance Company Has $1.83 Million Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

The Manufacturers Life Insurance Company lessened its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,520 shares of the utilities provider’s stock after selling 671 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of MGE Energy worth $1,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC acquired a new stake in shares of MGE Energy in the 4th quarter worth about $4,556,000. Dark Forest Capital Management LP purchased a new stake in MGE Energy in the 4th quarter valued at about $291,000. Alpine Global Management LLC purchased a new stake in MGE Energy in the 4th quarter valued at about $797,000. Susquehanna International Group LLP increased its stake in MGE Energy by 307.8% in the 4th quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider’s stock valued at $7,408,000 after buying an additional 59,510 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in MGE Energy by 147.4% in the 4th quarter. Hsbc Holdings PLC now owns 11,141 shares of the utilities provider’s stock valued at $1,046,000 after buying an additional 6,638 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Up 0.9%

MGE Energy stock opened at $91.08 on Monday. The firm has a 50 day moving average price of $90.82 and a 200-day moving average price of $93.47. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The company has a market capitalization of $3.33 billion, a P/E ratio of 27.85 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. As a group, equities analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee purchased 446 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the purchase, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented 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 reiterated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, April 23rd.

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.