The Manufacturers Life Insurance Company cut its holdings in MGE Energy, Inc. (NASDAQ:MGEE – Free Report) by 3.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,520 shares of the utilities provider’s stock after selling 671 shares during the period. The Manufacturers Life Insurance Company’s holdings in MGE Energy were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after buying an additional 168 shares during the period. Sterling Capital Management LLC boosted its holdings in MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after buying an additional 584 shares during the period. Smartleaf Asset Management LLC boosted its holdings in MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after buying an additional 929 shares during the period. KBC Group NV boosted its holdings in MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after buying an additional 360 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after buying an additional 1,684 shares during the period. 52.58% of the stock is owned by institutional investors.
Insider Transactions at MGE Energy
In related news, Director James G. Berbee acquired 446 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. The trade was a 4.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.
MGE Energy Stock Up 0.9%
MGE Energy (NASDAQ:MGEE – Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. Analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Monday, March 17th. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Wednesday, April 23rd.
Get Our Latest Analysis on MGE Energy
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.
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