Harbour Investments Inc. Decreases Position in MGE Energy Inc. $MGEE

Harbour Investments Inc. trimmed its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,160 shares of the utilities provider’s stock after selling 22,633 shares during the quarter. Harbour Investments Inc. owned approximately 0.13% of MGE Energy worth $3,698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Trust Advisors LP lifted its position in shares of MGE Energy by 2.3% in the third quarter. First Trust Advisors LP now owns 511,382 shares of the utilities provider’s stock valued at $43,048,000 after acquiring an additional 11,432 shares in the last quarter. Invesco Ltd. lifted its position in MGE Energy by 14.3% during the second quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock worth $21,115,000 after buying an additional 29,811 shares during the period. Speece Thorson Capital Group Inc. lifted its position in MGE Energy by 44.3% during the fourth 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 period. 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 worth $13,655,000 after buying an additional 101,586 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in MGE Energy by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 142,520 shares of the utilities provider’s stock worth $11,997,000 after buying an additional 17,969 shares during the period. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James G. Berbee bought 373 shares of the stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the purchase, the director owned 9,362 shares in the company, valued at $727,801.88. This represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

MGE Energy Price Performance

MGEE stock opened at $76.38 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15. MGE Energy Inc. has a 1 year low of $72.17 and a 1 year high of $91.49. The firm has a market cap of $2.81 billion, a P/E ratio of 19.58 and a beta of 0.76. The stock has a 50-day simple moving average of $77.34 and a 200-day simple moving average of $79.05.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%.The business had revenue of $242.70 million during the quarter, compared to analyst estimates of $227.06 million. On average, equities analysts predict that MGE Energy Inc. will post 3.94 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.475 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.5%. MGE Energy’s dividend payout ratio (DPR) is 48.72%.

Analyst Ratings Changes

Several equities research analysts have commented on MGEE shares. Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a research note on Friday, May 8th. Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $70.00 price target on shares of MGE Energy in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MGE Energy currently has an average rating of “Reduce” and an average price target of $76.50.

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.