MGE Energy, Inc. (NASDAQ:MGEE) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,433 shares of the utilities provider’s stock after buying an additional 1,140 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MGE Energy were worth $610,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd grew its stake in MGE Energy by 31.6% during the 3rd quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 154 shares during the last quarter. Quantbot Technologies LP purchased a new stake in MGE Energy in the third quarter valued at approximately $47,000. Raymond James & Associates acquired a new position in MGE Energy in the 3rd quarter worth approximately $202,000. Milestone Investment Advisors LLC purchased a new position in MGE Energy during the 3rd quarter worth approximately $225,000. Finally, Keybank National Association OH lifted its stake in MGE Energy by 4.2% during the 3rd quarter. Keybank National Association OH now owns 4,115 shares of the utilities provider’s stock valued at $282,000 after acquiring an additional 165 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Trading Up 0.8 %

Shares of MGEE stock opened at $78.96 on Thursday. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $83.27. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 24.30 and a beta of 0.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.52 and a quick ratio of 1.05. The stock has a 50 day simple moving average of $75.17 and a 200-day simple moving average of $72.28.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). MGE Energy had a return on equity of 10.49% and a net margin of 17.05%. The company had revenue of $164.65 million for the quarter, compared to analyst estimates of $190.55 million. On average, equities research analysts expect that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of MGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. TheStreet downgraded MGE Energy from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th.

Insider Buying and Selling

In other news, Director James G. Berbee acquired 458 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $82.16 per share, for a total transaction of $37,629.28. Following the acquisition, the director now owns 9,725 shares in the company, valued at approximately $799,006. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

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.