James Berbee Purchases 373 Shares of MGE Energy (NASDAQ:MGEE) Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee bought 373 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were bought at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the transaction, the director owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

MGE Energy Stock Performance

Shares of MGE Energy stock traded down $0.43 during trading hours on Thursday, reaching $73.72. The company had a trading volume of 251,583 shares, compared to its average volume of 125,175. The firm has a market cap of $2.70 billion, a PE ratio of 19.82 and a beta of 0.81. MGE Energy Inc. has a one year low of $72.78 and a one year high of $94.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.77 and a quick ratio of 0.55. The business has a fifty day simple moving average of $79.76 and a 200 day simple moving average of $81.77.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. MGE Energy had a return on equity of 10.60% and a net margin of 18.27%.The business had revenue of $189.55 million for the quarter. On average, analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be given a dividend of $0.475 per share. The ex-dividend date is Friday, February 27th. This represents a $1.90 annualized dividend and a dividend yield of 2.6%. MGE Energy’s dividend payout ratio is currently 51.08%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $78.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MGEE. First Trust Advisors LP increased its position in shares of MGE Energy by 407.1% in the second quarter. First Trust Advisors LP now owns 499,950 shares of the utilities provider’s stock worth $44,216,000 after purchasing an additional 401,361 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in MGE Energy by 167.5% during the third quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock valued at $13,655,000 after purchasing an additional 101,586 shares during the last quarter. ProShare Advisors LLC grew its stake in MGE Energy by 788.8% in the 2nd quarter. ProShare Advisors LLC now owns 76,265 shares of the utilities provider’s stock worth $6,745,000 after buying an additional 67,684 shares in the last quarter. Jane Street Group LLC grew its stake in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after buying an additional 65,843 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. increased its holdings in shares of MGE Energy by 44.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after buying an additional 60,037 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.