Northwestern Mutual Wealth Management Co. Has $3.17 Million Stock Holdings in MGE Energy Inc. $MGEE

Northwestern Mutual Wealth Management Co. increased its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 369.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,409 shares of the utilities provider’s stock after buying an additional 31,795 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in MGE Energy were worth $3,169,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in MGE Energy by 2.3% during the third quarter. First Trust Advisors LP now owns 511,382 shares of the utilities provider’s stock worth $43,048,000 after purchasing an additional 11,432 shares during the period. Invesco Ltd. lifted its stake 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 purchasing an additional 29,811 shares during the period. Speece Thorson Capital Group Inc. lifted its stake 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 purchasing an additional 60,037 shares during the period. Qube Research & Technologies Ltd lifted its stake 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 purchasing an additional 101,586 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake 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 purchasing an additional 17,969 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $76.06 on Tuesday. MGE Energy Inc. has a 1 year low of $72.17 and a 1 year high of $91.49. The firm has a 50 day moving average of $77.29 and a 200-day moving average of $79.16. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2.80 billion, a P/E ratio of 19.50 and a beta of 0.76.

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 net margin of 18.61% and a return on equity of 10.94%. The company had revenue of $242.70 million during the quarter, compared to analysts’ expectations of $227.06 million. As a group, sell-side analysts anticipate that MGE Energy Inc. will post 3.94 EPS for the current fiscal year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.475 dividend. The ex-dividend date of this dividend 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 currently 48.72%.

Analysts Set New Price Targets

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

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee purchased 373 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of $77.74 per share, with a total value of $28,997.02. Following the completion of the acquisition, the director directly owned 9,362 shares in the company, valued at approximately $727,801.88. This trade represents a 4.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

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.