Invesco Ltd. Raises Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Invesco Ltd. lifted its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,852 shares of the utilities provider's stock after purchasing an additional 32,555 shares during the quarter. Invesco Ltd. owned 0.39% of MGE Energy worth $13,140,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its stake in shares of MGE Energy by 4.1% in the fourth quarter. Bank of Montreal Can now owns 13,071 shares of the utilities provider's stock valued at $1,228,000 after acquiring an additional 509 shares during the period. Russell Investments Group Ltd. increased its holdings in MGE Energy by 9.9% during the 4th quarter. Russell Investments Group Ltd. now owns 15,542 shares of the utilities provider's stock worth $1,460,000 after purchasing an additional 1,397 shares during the period. Wells Fargo & Company MN increased its stake in shares of MGE Energy by 26.8% during the fourth quarter. Wells Fargo & Company MN now owns 28,661 shares of the utilities provider's stock valued at $2,693,000 after buying an additional 6,053 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of MGE Energy in the 4th quarter valued at about $610,000. Finally, ExodusPoint Capital Management LP bought a new position in MGE Energy in the fourth quarter worth approximately $1,613,000. 52.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MGEE. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a report on Monday, March 17th. Morgan Stanley increased their target price on shares of MGE Energy from $78.00 to $80.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th.

MGE Energy Stock Performance

Shares of MGE Energy stock traded down $0.93 during midday trading on Friday, hitting $89.85. The company had a trading volume of 66,541 shares, compared to its average volume of 141,913. The company has a fifty day simple moving average of $91.05 and a 200 day simple moving average of $93.49. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 27.48 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $171.42 million for the quarter. As a group, analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James G. Berbee bought 446 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

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.