James Berbee Buys 261 Shares of MGE Energy (NASDAQ:MGEE) Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee acquired 261 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were purchased at an average price of $81.30 per share, with a total value of $21,219.30. Following the acquisition, the director owned 9,738 shares of the company’s stock, valued at approximately $791,699.40. This trade represents a 2.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $78.66 on Friday. The company has a market capitalization of $2.97 billion, a PE ratio of 19.33 and a beta of 0.71. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $80.51 and its 200 day simple moving average is $78.83. MGE Energy Inc. has a 12 month low of $72.16 and a 12 month high of $88.01.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%.The business had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. On average, research analysts predict that MGE Energy Inc. will post 3.99 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. AXQ Capital LP grew its stake in shares of MGE Energy by 335.1% in the second quarter. AXQ Capital LP now owns 12,586 shares of the utilities provider’s stock valued at $1,026,000 after acquiring an additional 9,693 shares in the last quarter. Headlands Technologies LLC acquired a new stake in MGE Energy during the second quarter worth approximately $371,000. Northwestern Mutual Wealth Management Co. grew its position in MGE Energy by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,379 shares of the utilities provider’s stock worth $846,000 after buying an additional 138 shares in the last quarter. Van ECK Associates Corp grew its position in MGE Energy by 5.3% during the second quarter. Van ECK Associates Corp now owns 15,644 shares of the utilities provider’s stock worth $1,276,000 after buying an additional 782 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in MGE Energy during the 2nd quarter worth $1,194,000. Institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

MGEE has been the subject of several recent research reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a report on Monday, June 8th. Morgan Stanley lowered their target price on shares of MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $77.50.

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.