8,308 Shares in MGE Energy, Inc. (NASDAQ:MGEE) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,308 shares of the utilities provider's stock, valued at approximately $781,000.

A number of other hedge funds have also bought and sold shares of MGEE. Versant Capital Management Inc raised its position in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 257 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of MGE Energy by 88.9% during the 4th 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. Smartleaf Asset Management LLC increased its stake in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after acquiring an additional 929 shares during the last quarter. KBC Group NV raised its stake in MGE Energy by 32.2% during the fourth 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. Finally, Farther Finance Advisors LLC lifted its holdings in MGE Energy by 7,321.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock valued at $160,000 after acquiring an additional 1,684 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Price Performance

Shares of NASDAQ MGEE traded up $0.77 during trading on Friday, reaching $91.08. The company had a trading volume of 81,189 shares, compared to its average volume of 139,848. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The stock has a market capitalization of $3.33 billion, a PE ratio of 27.85 and a beta of 0.80. The stock has a 50-day moving average price of $90.82 and a two-hundred day moving average price of $93.44. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. As a group, sell-side analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director James G. Berbee acquired 446 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.