Bessemer Group Inc. increased its position in MGE Energy Inc. (NASDAQ:MGEE) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 39,519 shares of the utilities provider’s stock after buying an additional 319 shares during the period. Bessemer Group Inc. owned approximately 0.11% of MGE Energy worth $2,544,000 as of its most recent SEC filing.
Separately, Strs Ohio boosted its position in MGE Energy by 6.3% in the second quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock worth $218,000 after buying an additional 200 shares in the last quarter. 37.04% of the stock is owned by institutional investors and hedge funds.
Shares of MGE Energy Inc. (MGEE) traded up 0.71% during midday trading on Friday, hitting $63.65. 74,801 shares of the stock were exchanged. The firm has a market cap of $2.21 billion, a PE ratio of 28.57 and a beta of 0.35. MGE Energy Inc. has a 12-month low of $53.48 and a 12-month high of $68.70. The firm has a 50-day moving average price of $64.66 and a 200 day moving average price of $64.51.
MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $126.46 million during the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 13.82%. Analysts predict that MGE Energy Inc. will post $2.30 earnings per share for the current fiscal year.
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A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of MGE Energy from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded shares of MGE Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 16th.
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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