IAG Wealth Partners LLC Has $38,000 Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

IAG Wealth Partners LLC cut its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 32.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 528 shares of the utilities provider’s stock after selling 250 shares during the quarter. IAG Wealth Partners LLC’s holdings in MGE Energy were worth $38,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MGEE. Arizona State Retirement System raised its position in shares of MGE Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 10,296 shares of the utilities provider’s stock worth $705,000 after purchasing an additional 138 shares during the period. Covestor Ltd raised its position in shares of MGE Energy by 31.6% during the third quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 154 shares during the period. Keybank National Association OH raised its position in shares of MGE Energy by 4.2% during the third quarter. Keybank National Association OH now owns 4,115 shares of the utilities provider’s stock worth $282,000 after purchasing an additional 165 shares during the period. Magellan Asset Management Ltd raised its position in shares of MGE Energy by 1.1% during the third quarter. Magellan Asset Management Ltd now owns 25,862 shares of the utilities provider’s stock worth $1,772,000 after purchasing an additional 287 shares during the period. Finally, Foundry Partners LLC raised its position in shares of MGE Energy by 7.2% during the fourth quarter. Foundry Partners LLC now owns 4,455 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 300 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MGE Energy Stock Down 1.4 %

NASDAQ MGEE traded down $1.12 on Friday, reaching $77.60. The company had a trading volume of 146,795 shares, compared to its average volume of 177,889. The stock has a market capitalization of $2.81 billion, a P/E ratio of 23.88 and a beta of 0.72. The company’s fifty day moving average is $74.39 and its 200 day moving average is $72.14. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week 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.

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

Insider Buying and Selling

In other MGE Energy news, Director James G. Berbee purchased 458 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $82.16 per share, with a total value of $37,629.28. Following the acquisition, the director now directly owns 9,725 shares in the company, valued at approximately $799,006. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

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.