Occudo Quantitative Strategies LP Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Occudo Quantitative Strategies LP bought a new position 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 bought 2,246 shares of the utilities provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of MGE Energy by 145.0% in the fourth quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock valued at $13,719,000 after acquiring an additional 86,423 shares in the last quarter. Millennium Management LLC lifted its position in shares of MGE Energy by 134.8% in the 4th quarter. Millennium Management LLC now owns 106,611 shares of the utilities provider’s stock valued at $10,017,000 after acquiring an additional 61,200 shares in the last quarter. Susquehanna International Group LLP increased its stake in MGE Energy by 307.8% in the 4th quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider’s stock valued at $7,408,000 after buying an additional 59,510 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in MGE Energy in the 4th quarter valued at approximately $4,556,000. Finally, Barclays PLC increased its stake in 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 buying an additional 48,330 shares during the period. Institutional investors own 52.58% of the company’s stock.

Insider Activity at MGE Energy

In other news, Director James G. Berbee purchased 446 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Morgan Stanley restated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, April 23rd. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Friday, May 9th.

MGE Energy Stock Performance

NASDAQ MGEE opened at $92.60 on Friday. The company’s fifty day moving average is $90.84 and its two-hundred day moving average is $93.45. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 28.32 and a beta of 0.80. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week 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.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. Equities research analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current year.

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.