Yousif Capital Management LLC Raises Stake in MGE Energy Inc. $MGEE

Yousif Capital Management LLC increased its stake in MGE Energy Inc. (NASDAQ:MGEE) by 2.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,618 shares of the utilities provider’s stock after buying an additional 267 shares during the quarter. Yousif Capital Management LLC’s holdings in MGE Energy were worth $1,204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGEE. GAMMA Investing LLC boosted its holdings in shares of MGE Energy by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider’s stock worth $456,000 after buying an additional 251 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of MGE Energy in the 1st quarter worth about $332,000. FORM Wealth Advisors LLC purchased a new position in shares of MGE Energy in the 1st quarter worth about $807,000. Creative Financial Designs Inc. ADV raised its stake in MGE Energy by 1.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider’s stock valued at $671,000 after acquiring an additional 126 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in MGE Energy by 45.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,220 shares of the utilities provider’s stock valued at $764,000 after acquiring an additional 2,560 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee purchased 507 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the transaction, the director directly owned 6,329 shares in the company, valued at approximately $530,560.07. This represents a 8.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

MGE Energy Trading Down 0.2%

Shares of MGEE opened at $85.70 on Wednesday. The business’s 50-day moving average price is $84.48 and its 200-day moving average price is $87.20. MGE Energy Inc. has a twelve month low of $81.14 and a twelve month high of $109.22. The stock has a market cap of $3.13 billion, a PE ratio of 23.81 and a beta of 0.79. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60.

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

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.475 per share. The ex-dividend date is Monday, December 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.2%. MGE Energy’s dividend payout ratio is currently 52.78%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Morgan Stanley lowered their price objective on MGE Energy from $76.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. LADENBURG THALM/SH SH upgraded MGE Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings cut MGE Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $79.00.

MGE Energy 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.