Allspring Global Investments Holdings LLC Sells 10,642 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Allspring Global Investments Holdings LLC decreased its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 48.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,313 shares of the utilities provider’s stock after selling 10,642 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MGE Energy were worth $818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in MGE Energy by 4.4% in the third quarter. Victory Capital Management Inc. now owns 1,169,321 shares of the utilities provider’s stock worth $80,110,000 after acquiring an additional 49,220 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in MGE Energy by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 373,396 shares of the utilities provider’s stock worth $25,581,000 after acquiring an additional 4,692 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in MGE Energy by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 288,434 shares of the utilities provider’s stock worth $19,761,000 after acquiring an additional 3,353 shares in the last quarter. Swiss National Bank boosted its holdings in MGE Energy by 1.0% in the third quarter. Swiss National Bank now owns 79,550 shares of the utilities provider’s stock worth $5,450,000 after acquiring an additional 800 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in MGE Energy by 10.5% in the third quarter. Harbour Investments Inc. now owns 59,000 shares of the utilities provider’s stock worth $4,042,000 after acquiring an additional 5,593 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Up 1.0 %

MGEE stock opened at $78.97 on Thursday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $83.27. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $73.85 and its 200-day moving average is $72.05. The firm has a market capitalization of $2.86 billion, a PE ratio of 24.30 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last posted its earnings results 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 net margin of 17.05% and a return on equity of 10.49%. The company had revenue of $164.65 million during the quarter, compared to the consensus estimate of $190.55 million. Sell-side analysts expect that MGE Energy, Inc. will post 3.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on MGEE shares. TheStreet lowered MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. StockNews.com lowered MGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd.

Insider Activity

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

MGE Energy 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.