Dark Forest Capital Management LP Acquires New Shares in MGE Energy, Inc. (NASDAQ:MGEE)

Dark Forest Capital Management LP bought a new position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,100 shares of the utilities provider's stock, valued at approximately $291,000.

Other large investors also recently made changes to their positions in the company. Alpine Global Management LLC bought a new position in MGE Energy in the 4th quarter worth approximately $797,000. Susquehanna International Group LLP grew its stake in shares of MGE Energy by 307.8% in the fourth quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider's stock worth $7,408,000 after purchasing an additional 59,510 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of MGE Energy by 147.4% in the fourth quarter. Hsbc Holdings PLC now owns 11,141 shares of the utilities provider's stock worth $1,046,000 after purchasing an additional 6,638 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of MGE Energy during the fourth quarter valued at $290,000. Finally, Stifel Financial Corp raised its stake in shares of MGE Energy by 12.3% during the fourth quarter. Stifel Financial Corp now owns 3,945 shares of the utilities provider's stock valued at $371,000 after purchasing an additional 433 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MGEE shares. Morgan Stanley restated 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 report on Monday, March 17th.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the transaction, the director now owns 11,532 shares of the company's stock, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company's stock.

MGE Energy Price Performance

Shares of NASDAQ MGEE traded up $0.55 during midday trading on Friday, reaching $90.89. The company's stock had a trading volume of 73,387 shares, compared to its average volume of 140,699. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 27.80 and a beta of 0.71. The company has a 50 day moving average price of $90.89 and a 200 day moving average price of $93.49. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

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

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.