Madison Wealth Partners Inc Purchases Shares of 31,812 MGE Energy Inc. $MGEE

Madison Wealth Partners Inc acquired a new position in MGE Energy Inc. (NASDAQ:MGEE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 31,812 shares of the utilities provider’s stock, valued at approximately $2,594,000. Madison Wealth Partners Inc owned 0.08% of MGE Energy as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in MGE Energy by 18.8% during the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock valued at $769,000 after buying an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of MGE Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after acquiring an additional 954 shares during the period. United Services Automobile Association bought a new stake in shares of MGE Energy during the 1st quarter valued at $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MGE Energy by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock worth $8,051,000 after purchasing an additional 13,715 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after purchasing an additional 65,843 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Down 2.3%

Shares of MGEE stock opened at $78.66 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.14 and a quick ratio of 0.79. MGE Energy Inc. has a one year low of $72.16 and a one year high of $88.01. The company’s fifty day moving average price is $80.51 and its 200-day moving average price is $78.83. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 19.33 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The company had revenue of $161.19 million during the quarter, compared to the consensus estimate of $166.37 million. Sell-side analysts expect that MGE Energy Inc. will post 3.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGEE has been the topic of several analyst reports. Morgan Stanley lowered their target price on MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a research report on Friday. LADENBURG THALM/SH SH raised MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MGE Energy has an average rating of “Hold” and a consensus target price of $77.50.

MGE Energy 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.