Deutsche Bank AG Sells 669 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Deutsche Bank AG reduced its position in MGE Energy, Inc. (NASDAQ:MGEE) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,455 shares of the utilities provider’s stock after selling 669 shares during the quarter. Deutsche Bank AG owned about 0.18% of MGE Energy worth $4,811,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MGEE. HighTower Advisors LLC bought a new position in shares of MGE Energy in the second quarter valued at approximately $203,000. Van ECK Associates Corp lifted its holdings in shares of MGE Energy by 11.2% in the 2nd quarter. Van ECK Associates Corp now owns 5,269 shares of the utilities provider’s stock worth $392,000 after acquiring an additional 532 shares during the last quarter. CWM Advisors LLC lifted its holdings in shares of MGE Energy by 3.1% in the 2nd quarter. CWM Advisors LLC now owns 6,270 shares of the utilities provider’s stock worth $467,000 after acquiring an additional 190 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of MGE Energy in the 2nd quarter worth approximately $616,000. Finally, Panagora Asset Management Inc. lifted its holdings in shares of MGE Energy by 125.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 10,200 shares of the utilities provider’s stock worth $759,000 after acquiring an additional 5,683 shares during the last quarter. Institutional investors own 50.01% of the company’s stock.

Shares of MGE Energy stock opened at $77.93 on Friday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.86 and a beta of 0.64. The firm’s 50-day moving average is $77.92 and its 200 day moving average is $77.63. MGE Energy, Inc. has a 1 year low of $63.00 and a 1 year high of $82.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.89 and a quick ratio of 1.49.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Thursday, November 4th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The company had revenue of $145.87 million for the quarter. MGE Energy had a net margin of 18.67% and a return on equity of 10.82%. On average, equities analysts expect that MGE Energy, Inc. will post 3.01 EPS for the current fiscal year.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of MGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, October 21st. Morgan Stanley lifted their target price on shares of MGE Energy from $69.00 to $73.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 21st. Finally, Bank of America boosted their price objective on shares of MGE Energy from $64.00 to $71.00 in a research report on Thursday, December 30th.

MGE Energy Profile

MGE Energy, Inc provides natural gas and electric services. The firm operates its business through the following segments: Regulated Electric Utility Operations, Regulated Gas Utility Operations, Non-Regulated Energy Operations, Transmission Investments, and All Other. The Regulated Electric Utility Operations segment engages in generating, purchasing, and distributing electricity.

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

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