IHT Wealth Management LLC Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

IHT Wealth Management LLC bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,088 shares of the utilities provider's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of MGE Energy by 367.1% during the fourth 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. boosted its holdings in MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after purchasing an additional 168 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of MGE Energy by 656.2% during the fourth 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 last quarter. Smartleaf Asset Management LLC raised its stake 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 worth $105,000 after purchasing an additional 929 shares during the period. Finally, KBC Group NV grew its position in MGE Energy by 32.2% during the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock valued at $139,000 after buying an additional 360 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MGE Energy Price Performance

Shares of MGEE traded up $0.55 during midday trading on Friday, hitting $90.89. 73,387 shares of the company traded hands, compared to its average volume of 140,699. The stock has a 50-day moving average of $90.89 and a 200-day moving average of $93.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. 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 $3.32 billion, a P/E ratio of 27.80 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share 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 firm had revenue of $171.42 million during the quarter. As a group, sell-side analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee purchased 446 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

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.