MGE Energy (NASDAQ:MGEE) Director Acquires $21,272.50 in Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee purchased 254 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was purchased at an average price of $83.75 per share, for a total transaction of $21,272.50. Following the completion of the purchase, the director owned 6,583 shares in the company, valued at approximately $551,326.25. The trade was a 4.01% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

MGE Energy Stock Performance

MGEE stock opened at $83.44 on Wednesday. The company has a market cap of $3.05 billion, a P/E ratio of 23.18 and a beta of 0.80. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The stock’s fifty day moving average price is $85.75 and its 200-day moving average price is $88.84.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). MGE Energy had a return on equity of 10.58% and a net margin of 18.24%.The company had revenue of $159.45 million during the quarter. On average, equities analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.475 per share. This is a boost from MGE Energy’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. MGE Energy’s payout ratio is 52.78%.

Analysts Set New Price Targets

A number of research firms have commented on MGEE. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Thursday, August 21st. Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell” and an average price target of $74.00.

Institutional Investors Weigh In On MGE Energy

Several large investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV increased its stake in MGE Energy by 1.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider’s stock worth $671,000 after acquiring an additional 126 shares during the last quarter. Xponance Inc. increased its stake in MGE Energy by 5.1% during the first quarter. Xponance Inc. now owns 2,725 shares of the utilities provider’s stock worth $253,000 after acquiring an additional 131 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in MGE Energy by 47.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 169 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of MGE Energy by 1.6% during the second quarter. Maryland State Retirement & Pension System now owns 10,738 shares of the utilities provider’s stock valued at $950,000 after buying an additional 172 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of MGE Energy by 19.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock valued at $117,000 after buying an additional 213 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.