MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lowered its stake in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 896,607 shares of the utilities provider's stock after selling 64,247 shares during the quarter. T. Rowe Price Investment Management Inc. owned 2.48% of MGE Energy worth $84,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guggenheim Capital LLC bought a new stake in MGE Energy during the fourth quarter valued at about $232,000. Madison Investment Advisors LLC bought a new stake in shares of MGE Energy in the 4th quarter valued at approximately $295,000. JPMorgan Chase & Co. lifted its stake in shares of MGE Energy by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider's stock valued at $5,449,000 after purchasing an additional 8,233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of MGE Energy by 62,788.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,660 shares of the utilities provider's stock worth $532,000 after buying an additional 5,651 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in MGE Energy during the 4th quarter worth $208,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee bought 446 shares of MGE Energy stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on MGEE shares. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research report on Monday, March 17th. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a research report on Wednesday, April 23rd.

MGE Energy Trading Down 0.2 %

MGEE stock traded down $0.21 during trading on Thursday, reaching $90.21. 24,052 shares of the stock were exchanged, compared to its average volume of 140,921. The business has a 50 day moving average price of $91.01 and a 200-day moving average price of $93.50. 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, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 27.65 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates of $0.84 by ($0.23). The company had revenue of $171.42 million for the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. On average, research analysts predict 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.