Alpine Global Management LLC Makes New $797,000 Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Alpine Global Management LLC bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,480 shares of the utilities provider's stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of MGE Energy by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock valued at $31,000 after buying an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 168 shares during the period. Sterling Capital Management LLC lifted its holdings in MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 584 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after purchasing an additional 929 shares during the period. Finally, KBC Group NV increased its holdings in shares of MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock valued at $139,000 after purchasing an additional 360 shares during the last quarter. Institutional investors own 52.58% of the company's stock.

Analyst Ratings Changes

MGEE has been the subject of a number of research reports. Morgan Stanley raised their target price on shares of MGE Energy from $78.00 to $80.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research report on Monday, March 17th.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee bought 446 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the acquisition, the director now owns 11,532 shares of the company's stock, valued at $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.

MGE Energy Stock Performance

MGEE traded down $0.93 during trading on Friday, hitting $89.85. The stock had a trading volume of 66,541 shares, compared to its average volume of 141,893. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a 50 day moving average price of $91.05 and a 200-day moving average price of $93.51. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 27.48 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $171.42 million for the quarter. As a group, research analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

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.