First Trust Advisors LP Acquires 23,079 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

First Trust Advisors LP grew its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 37.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,274 shares of the utilities provider's stock after purchasing an additional 23,079 shares during the period. First Trust Advisors LP owned about 0.23% of MGE Energy worth $7,918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in MGE Energy by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider's stock worth $40,673,000 after buying an additional 7,416 shares during the period. Principal Financial Group Inc. raised its position in shares of MGE Energy by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider's stock worth $17,988,000 after purchasing an additional 7,554 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of MGE Energy by 145.0% during the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock valued at $13,719,000 after purchasing an additional 86,423 shares in the last quarter. Invesco Ltd. increased its stake in MGE Energy by 30.3% during the 4th quarter. Invesco Ltd. now owns 139,852 shares of the utilities provider's stock worth $13,140,000 after purchasing an additional 32,555 shares in the last quarter. Finally, Barclays PLC increased its stake in MGE Energy by 61.3% during the 4th quarter. Barclays PLC now owns 100,520 shares of the utilities provider's stock worth $9,445,000 after purchasing an additional 38,212 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James G. Berbee purchased 446 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $90.83 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MGEE. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research report on Monday, March 17th. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a report on Wednesday, April 23rd.

MGE Energy Stock Up 0.6 %

NASDAQ MGEE traded up $0.55 during trading on Friday, hitting $90.89. The stock had a trading volume of 73,387 shares, compared to its average volume of 140,701. The company has a market capitalization of $3.32 billion, a PE ratio of 27.80 and a beta of 0.71. MGE Energy, Inc. has a 12 month low of $72.27 and a 12 month high of $109.22. The company's 50-day moving average price is $90.89 and its two-hundred day moving average price is $93.49. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41.

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