MGE Energy (NASDAQ:MGEE) Director James Berbee Acquires 373 Shares

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee purchased 373 shares of MGE Energy stock in a transaction dated Wednesday, March 11th. The stock was bought at an average price of $77.74 per share, with a total value of $28,997.02. Following the completion of the purchase, the director directly owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MGE Energy Stock Performance

MGEE stock traded up $0.71 on Friday, hitting $74.48. The company had a trading volume of 124,360 shares, compared to its average volume of 129,459. The stock’s 50-day simple moving average is $79.67 and its 200 day simple moving average is $81.71. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 20.00 and a beta of 0.81. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 12-month low of $72.78 and a 12-month high of $94.79.

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

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.90 annualized dividend and a yield of 2.6%. MGE Energy’s payout ratio is currently 51.08%.

Institutional Trading of MGE Energy

Several hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in MGE Energy by 63.8% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 162 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of MGE Energy during the 3rd quarter valued at about $40,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of MGE Energy by 107.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 251 shares during the last quarter. eCIO Inc. purchased a new position in MGE Energy in the fourth quarter worth about $45,000. Finally, Parallel Advisors LLC increased its stake in MGE Energy by 28.6% during the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 159 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About MGE Energy

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.