8,550 Shares in MGE Energy Inc. $MGEE Acquired by FORM Wealth Advisors LLC

FORM Wealth Advisors LLC purchased a new position in MGE Energy Inc. (NASDAQ:MGEE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,550 shares of the utilities provider’s stock, valued at approximately $671,000.

A number of other hedge funds also recently modified their holdings of MGEE. AQR Capital Management LLC raised its holdings in shares of MGE Energy by 18.8% in the 1st quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after purchasing an additional 1,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MGE Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock worth $2,018,000 after purchasing an additional 954 shares during the period. United Services Automobile Association bought a new stake in shares of MGE Energy in the 1st quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of MGE Energy by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock worth $8,051,000 after purchasing an additional 13,715 shares during the period. Finally, Jane Street Group LLC grew its stake in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after buying an additional 65,843 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGEE. Morgan Stanley reduced their price objective on shares of MGE Energy from $79.00 to $78.00 and set an “underweight” rating for the company in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $80.50.

MGE Energy Stock Up 0.4%

MGE Energy stock opened at $78.65 on Wednesday. MGE Energy Inc. has a 1-year low of $72.17 and a 1-year high of $94.00. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 21.14 and a beta of 0.79. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $78.65 and a 200 day simple moving average of $80.30.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. The business had revenue of $189.55 million during the quarter. On average, analysts predict that MGE Energy Inc. will post 3.92 earnings per share for the current year.

Insider Activity at MGE Energy

In other news, Director James G. Berbee purchased 373 shares of MGE Energy stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the transaction, the director directly owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.