Crestline Management LP Makes New $873,000 Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Crestline Management LP bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,288 shares of the utilities provider’s stock, valued at approximately $873,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 168 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 584 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 929 shares in the last quarter. KBC Group NV boosted its holdings in shares of MGE Energy by 32.2% during the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 360 shares during the period. Finally, Farther Finance Advisors LLC grew its position in MGE Energy by 7,321.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,684 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Trading Up 0.9 %

Shares of NASDAQ MGEE opened at $91.08 on Friday. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 27.85 and a beta of 0.80. The business has a 50 day simple moving average of $90.82 and a 200 day simple moving average of $93.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22.

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

Insiders Place Their Bets

In related news, Director James G. Berbee purchased 446 shares of MGE Energy stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the transaction, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MGEE. Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a research report on Wednesday, April 23rd. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a report on Monday, March 17th.

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.