Tudor Investment Corp ET AL Purchases 16,786 Shares of MGE Energy Inc. $MGEE

Tudor Investment Corp ET AL lifted its position in MGE Energy Inc. (NASDAQ:MGEE) by 20.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,520 shares of the utilities provider’s stock after acquiring an additional 16,786 shares during the quarter. Tudor Investment Corp ET AL owned 0.27% of MGE Energy worth $8,209,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its position in MGE Energy by 160.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 23,661 shares of the utilities provider’s stock valued at $1,992,000 after purchasing an additional 14,579 shares during the period. GSA Capital Partners LLP bought a new stake in shares of MGE Energy in the 3rd quarter valued at about $1,628,000. Osaic Holdings Inc. lifted its position in shares of MGE Energy by 84.4% in the 2nd quarter. Osaic Holdings Inc. now owns 31,499 shares of the utilities provider’s stock worth $2,786,000 after purchasing an additional 14,415 shares during the period. Summit Global Investments purchased a new stake in shares of MGE Energy in the 2nd quarter worth approximately $1,059,000. Finally, Legal & General Group Plc boosted its stake in shares of MGE Energy by 2.9% during the second quarter. Legal & General Group Plc now owns 210,602 shares of the utilities provider’s stock valued at $18,626,000 after purchasing an additional 6,001 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other MGE Energy news, Director James G. Berbee acquired 373 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the acquisition, the director owned 9,362 shares in the company, valued at approximately $727,801.88. This trade represents a 4.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MGEE. Morgan Stanley cut their price objective on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Finally, Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MGE Energy has an average rating of “Reduce” and an average price target of $78.00.

MGE Energy Stock Up 2.7%

NASDAQ:MGEE opened at $76.11 on Tuesday. MGE Energy Inc. has a fifty-two week low of $72.17 and a fifty-two week high of $94.21. The stock has a market capitalization of $2.78 billion, a P/E ratio of 20.46 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. The company’s 50-day simple moving average is $79.15 and its 200-day simple moving average is $81.10.

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

MGE Energy Announces Dividend

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

MGE Energy 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.