MGE Energy Inc. (NASDAQ:MGEE) Stake Increased by Bessemer Group Inc.

Bessemer Group Inc. boosted its stake in MGE Energy Inc. (NASDAQ:MGEE) by 0.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 39,519 shares of the utilities provider’s stock after buying an additional 319 shares during the period. Bessemer Group Inc.’s holdings in MGE Energy were worth $2,544,000 at the end of the most recent quarter.

Separately, Russell Investments Group Ltd. boosted its position in MGE Energy by 146.3% in the second quarter. Russell Investments Group Ltd. now owns 8,102 shares of the utilities provider’s stock valued at $522,000 after buying an additional 4,812 shares in the last quarter. Institutional investors own 37.66% of the company’s stock.

MGE Energy Inc. (NASDAQ:MGEE) opened at 66.65 on Wednesday. The company has a market cap of $2.31 billion, a PE ratio of 29.69 and a beta of 0.35. MGE Energy Inc. has a 52-week low of $53.48 and a 52-week high of $68.70. The firm’s 50 day moving average is $65.10 and its 200 day moving average is $64.35.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $126.46 million for the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. Analysts forecast that MGE Energy Inc. will post $2.30 EPS for the current fiscal year.

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MGEE has been the topic of several recent analyst reports. BidaskClub cut shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of MGE Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 14th.

About MGE Energy

MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).

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Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

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