Guggenheim Capital LLC Purchases New Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Guggenheim Capital LLC purchased a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,466 shares of the utilities provider’s stock, valued at approximately $232,000.

Several other hedge funds have also made changes to their positions in MGEE. Barclays PLC lifted its position in shares of MGE Energy by 345.8% in the 3rd quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock valued at $5,697,000 after acquiring an additional 48,330 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of MGE Energy by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock valued at $5,449,000 after buying an additional 8,233 shares during the period. Versant Capital Management Inc boosted its stake in shares of MGE Energy by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after buying an additional 257 shares during the period. GAMMA Investing LLC boosted its stake in shares of MGE Energy by 196.1% during the 4th quarter. GAMMA Investing LLC now owns 4,657 shares of the utilities provider’s stock valued at $438,000 after buying an additional 3,084 shares during the period. Finally, Legacy Private Trust Co. acquired a new stake in shares of MGE Energy during the 4th quarter valued at $356,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

Shares of MGEE opened at $90.06 on Tuesday. The company has a market capitalization of $3.29 billion, a PE ratio of 27.54 and a beta of 0.71. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company’s fifty day moving average price is $91.04 and its 200 day moving average price is $93.54.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $171.42 million for the quarter. As a group, analysts expect that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Monday, March 17th. Morgan Stanley raised their price target on shares of MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Thursday, March 20th.

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee purchased 446 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. The trade was a 4.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

MGE Energy Company Profile

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.