James Berbee Acquires 275 Shares of MGE Energy (NASDAQ:MGEE) Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee bought 275 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was bought at an average price of $77.35 per share, for a total transaction of $21,271.25. Following the completion of the purchase, the director owned 10,013 shares of the company’s stock, valued at approximately $774,505.55. The trade was a 2.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

MGE Energy Stock Up 0.1%

MGE Energy stock opened at $76.48 on Friday. The firm has a 50 day moving average price of $80.17 and a 200-day moving average price of $78.54. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a twelve month low of $72.16 and a twelve month high of $87.94. The company has a market capitalization of $2.89 billion, a P/E ratio of 18.79 and a beta of 0.70.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The company had revenue of $161.19 million for the quarter, compared to analysts’ expectations of $166.37 million. As a group, equities analysts predict that MGE Energy Inc. will post 3.99 EPS for the current year.

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.5083 dividend. The ex-dividend date is Tuesday, September 1st. This is a boost from MGE Energy’s previous quarterly dividend of $0.47. This represents a $2.03 annualized dividend and a dividend yield of 2.7%. MGE Energy’s dividend payout ratio is presently 49.88%.

Hedge Funds Weigh In On MGE Energy

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in MGE Energy during the 2nd quarter worth about $496,897,000. California State Teachers Retirement System boosted its stake in MGE Energy by 9,992.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,518,043 shares of the utilities provider’s stock worth $286,861,000 after purchasing an additional 3,483,186 shares during the period. Geode Capital Management LLC grew its holdings in MGE Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 921,952 shares of the utilities provider’s stock valued at $72,315,000 after buying an additional 3,692 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in MGE Energy during the 2nd quarter valued at about $27,087,000. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of MGE Energy during the first quarter valued at about $21,418,000. 52.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Morgan Stanley dropped their price objective on shares of MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a report on Friday, August 21st. Finally, 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 research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MGE Energy currently has a consensus 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. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to residential, commercial and industrial customers in south-central Wisconsin.

The company’s operations include generating, purchasing, transmitting and distributing electricity, as well as distributing natural gas. MGE Energy’s generation portfolio includes renewable resources such as wind and solar, along with other generation and purchased-power arrangements.