Allspring Global Investments Holdings LLC Sells 10,642 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Allspring Global Investments Holdings LLC cut its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 48.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,313 shares of the utilities provider's stock after selling 10,642 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in MGE Energy were worth $818,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Alps Advisors Inc. increased its stake in MGE Energy by 27.5% in the third quarter. Alps Advisors Inc. now owns 5,626 shares of the utilities provider's stock valued at $385,000 after acquiring an additional 1,215 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of MGE Energy by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,169,321 shares of the utilities provider's stock valued at $80,110,000 after purchasing an additional 49,220 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of MGE Energy by 42.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 49,299 shares of the utilities provider's stock valued at $3,378,000 after purchasing an additional 14,574 shares during the last quarter. Strs Ohio boosted its position in MGE Energy by 39.4% in the third quarter. Strs Ohio now owns 14,500 shares of the utilities provider's stock valued at $993,000 after buying an additional 4,100 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in shares of MGE Energy during the fourth quarter worth $344,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee purchased 458 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the acquisition, the director now owns 9,725 shares of the company's stock, valued at approximately $799,006. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

MGE Energy Stock Down 0.3 %

MGEE traded down $0.25 during midday trading on Thursday, hitting $78.72. The company had a trading volume of 185,916 shares, compared to its average volume of 365,803. The stock's 50 day moving average price is $74.13 and its 200 day moving average price is $72.10. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $83.27. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 24.36 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.06). MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. The business had revenue of $164.65 million for the quarter, compared to analyst estimates of $190.55 million. On average, research analysts anticipate that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MGEE. TheStreet downgraded MGE Energy from a "b" rating to a "c+" rating in a report on Tuesday, January 30th. StockNews.com downgraded MGE Energy from a "hold" rating to a "sell" rating in a research note on Wednesday, April 3rd.

About MGE Energy

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.