Goldman Sachs Group Inc. decreased its position in shares of MGE Energy (NASDAQ:MGEE) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,400 shares of the utilities provider’s stock after selling 5,560 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.09% of MGE Energy worth $1,981,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of MGEE. Deutsche Bank AG grew its holdings in shares of MGE Energy by 108.4% during the fourth quarter. Deutsche Bank AG now owns 91,508 shares of the utilities provider’s stock worth $5,772,000 after buying an additional 47,589 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of MGE Energy by 12.1% during the fourth quarter. Renaissance Technologies LLC now owns 271,650 shares of the utilities provider’s stock worth $17,141,000 after buying an additional 29,400 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of MGE Energy during the fourth quarter worth about $365,000. Geode Capital Management LLC grew its holdings in shares of MGE Energy by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 317,117 shares of the utilities provider’s stock worth $20,010,000 after buying an additional 5,212 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of MGE Energy by 156.7% during the fourth quarter. Citadel Advisors LLC now owns 8,144 shares of the utilities provider’s stock worth $514,000 after buying an additional 4,971 shares during the last quarter. 39.12% of the stock is currently owned by institutional investors.
NASDAQ MGEE opened at $57.40 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.95 and a current ratio of 2.30. MGE Energy has a 52-week low of $51.05 and a 52-week high of $68.70. The stock has a market cap of $1,944.90, a P/E ratio of 25.74 and a beta of 0.30.
MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. MGE Energy had a return on equity of 10.28% and a net margin of 17.33%. The firm had revenue of $140.27 million for the quarter. analysts predict that MGE Energy will post 2.3 earnings per share for the current fiscal year.
Separately, BidaskClub raised MGE Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, February 10th.
In other news, insider Jeffrey M. Keebler acquired 627 shares of MGE Energy stock in a transaction that occurred on Tuesday, March 13th. The stock was purchased at an average price of $55.73 per share, for a total transaction of $34,942.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James G. Berbee acquired 449 shares of MGE Energy stock in a transaction that occurred on Tuesday, March 13th. The stock was purchased at an average price of $55.73 per share, with a total value of $25,022.77. Following the transaction, the director now owns 449 shares of the company’s stock, valued at $25,022.77. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,260 shares of company stock worth $69,955. Corporate insiders own 0.19% of the company’s stock.
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About MGE Energy
MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.
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