Crestline Management LP Acquires New Position in MGE Energy, Inc. (NASDAQ:MGEE)

Crestline Management LP bought a new position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 9,288 shares of the utilities provider's stock, valued at approximately $873,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MGEE. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 worth $34,000 after acquiring an additional 168 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after buying an additional 584 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares during the last quarter. KBC Group NV boosted its stake 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 worth $139,000 after buying an additional 360 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of MGE Energy by 7,321.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after buying an additional 1,684 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MGEE shares. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a research report on Wednesday, April 23rd. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee bought 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. The trade was a 4.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company's stock.

MGE Energy Trading Down 0.5%

Shares of MGE Energy stock traded down $0.44 during trading hours on Wednesday, reaching $89.71. 133,892 shares of the company's stock were exchanged, compared to its average volume of 139,754. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 27.43 and a beta of 0.80. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average of $90.86 and a 200-day moving average of $93.44. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. Sell-side analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Company 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.