Speece Thorson Capital Group Inc. Has $11.41 Million Stock Holdings in MGE Energy Inc. $MGEE

Speece Thorson Capital Group Inc. raised its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 20.9% during the third quarter, Holdings Channel reports. The institutional investor owned 135,559 shares of the utilities provider’s stock after buying an additional 23,399 shares during the quarter. MGE Energy makes up about 2.3% of Speece Thorson Capital Group Inc.’s holdings, making the stock its 26th largest position. Speece Thorson Capital Group Inc.’s holdings in MGE Energy were worth $11,411,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of MGE Energy in the 3rd quarter worth about $40,000. Steward Partners Investment Advisory LLC lifted its position in MGE Energy by 107.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 251 shares in the last quarter. Parallel Advisors LLC boosted its stake in MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 159 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in MGE Energy by 19.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 213 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in MGE Energy during the 3rd quarter worth approximately $119,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James G. Berbee purchased 373 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $77.74 per share, with a total value of $28,997.02. Following the transaction, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MGEE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Morgan Stanley cut their target price on MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Finally, Wall Street Zen raised MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MGE Energy has a consensus rating of “Reduce” and a consensus target price of $78.00.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $74.41 on Wednesday. MGE Energy Inc. has a fifty-two week low of $72.78 and a fifty-two week high of $94.21. The company’s 50-day moving average is $79.48 and its 200 day moving average is $81.40. The company has a market capitalization of $2.72 billion, a P/E ratio of 20.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.77.

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

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is currently 51.08%.

MGE Energy Company Profile

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.