MGE Energy, Inc. (NASDAQ:MGEE) Stake Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 147.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,141 shares of the utilities provider's stock after acquiring an additional 6,638 shares during the quarter. Hsbc Holdings PLC's holdings in MGE Energy were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In related news, Director James G. Berbee bought 446 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the transaction, the director now owns 11,532 shares of the company's stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MGEE. Morgan Stanley restated an "underweight" rating on shares of MGE Energy in a research note on Wednesday, April 23rd. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Monday, March 17th.

MGE Energy Stock Up 0.8 %

MGEE stock traded up $0.74 during trading on Tuesday, reaching $91.62. The stock had a trading volume of 65,230 shares, compared to its average volume of 140,322. 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 firm has a fifty day moving average price of $90.85 and a 200 day moving average price of $93.46. The company has a market capitalization of $3.35 billion, a P/E ratio of 28.02 and a beta of 0.80. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22.

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