MGE Energy (NASDAQ:MGEE) Director Purchases $28,997.02 in Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee purchased 373 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $77.74 per share, with a total value of $28,997.02. Following the transaction, the director owned 9,362 shares in the company, valued at $727,801.88. This represents a 4.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MGE Energy Trading Up 1.4%

NASDAQ MGEE opened at $74.77 on Friday. MGE Energy Inc. has a twelve month low of $72.78 and a twelve month high of $94.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.77. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 20.10 and a beta of 0.81. The firm’s 50 day moving average price is $79.60 and its two-hundred day moving average price is $81.59.

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

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th. MGE Energy’s payout ratio is presently 51.08%.

Analyst Ratings Changes

MGEE has been the subject of a number of research reports. Morgan Stanley decreased their price objective on MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MGE Energy presently has a consensus rating of “Reduce” and a consensus price target of $78.00.

Hedge Funds Weigh In On MGE Energy

A number of hedge funds have recently modified their holdings of MGEE. AQR Capital Management LLC boosted its position in MGE Energy by 18.8% during the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock valued at $769,000 after purchasing an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MGE Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock worth $2,018,000 after purchasing an additional 954 shares during the last quarter. United Services Automobile Association acquired a new position in MGE Energy in the 1st quarter worth about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of MGE Energy by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock worth $8,051,000 after purchasing an additional 13,715 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of MGE Energy by 718.5% during the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after purchasing an additional 65,843 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

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.