First Business Financial Services Inc. Has $490,000 Position in MGE Energy Inc. $MGEE

First Business Financial Services Inc. reduced its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 85.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,252 shares of the utilities provider’s stock after selling 38,130 shares during the period. First Business Financial Services Inc.’s holdings in MGE Energy were worth $490,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. First Trust Advisors LP boosted its position in shares of MGE Energy by 2.3% during the 3rd quarter. First Trust Advisors LP now owns 511,382 shares of the utilities provider’s stock valued at $43,048,000 after acquiring an additional 11,432 shares in the last quarter. Invesco Ltd. grew its stake in MGE Energy by 14.3% during the second quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock worth $21,115,000 after buying an additional 29,811 shares during the last quarter. Speece Thorson Capital Group Inc. grew its stake in MGE Energy by 44.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after buying an additional 60,037 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in MGE Energy by 167.5% during the third quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock worth $13,655,000 after buying an additional 101,586 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in MGE Energy by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 142,520 shares of the utilities provider’s stock worth $11,997,000 after buying an additional 17,969 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Trading Up 0.8%

MGEE opened at $75.60 on Wednesday. MGE Energy Inc. has a fifty-two week low of $72.17 and a fifty-two week high of $94.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 19.38 and a beta of 0.76. The firm has a 50 day simple moving average of $77.27 and a 200 day simple moving average of $79.36.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The company had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. On average, sell-side analysts anticipate that MGE Energy Inc. will post 3.94 earnings per share for the current year.

Analysts Set New Price Targets

MGEE has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research note on Friday, May 8th. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research note on Monday, April 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MGE Energy has a consensus rating of “Reduce” and an average target price of $80.50.

Insiders Place Their Bets

In other news, Director James G. Berbee bought 373 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the acquisition, the director owned 9,362 shares in the company, valued at approximately $727,801.88. This trade represents a 4.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

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.