MGE Energy Inc. $MGEE Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. lessened its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 32.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 47,160 shares of the utilities provider’s stock after selling 22,633 shares during the period. Harbour Investments Inc.’s holdings in MGE Energy were worth $3,698,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. New Age Alpha Advisors LLC acquired a new stake in MGE Energy during the 4th quarter valued at approximately $205,000. Hantz Financial Services Inc. grew its stake in MGE Energy by 63.8% during the 4th 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 in the last quarter. Poehling Capital Management INC. grew its stake in MGE Energy by 6.8% during the 4th quarter. Poehling Capital Management INC. now owns 3,128 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 200 shares in the last quarter. Covestor Ltd grew its stake in MGE Energy by 84.5% during the 4th quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 402 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in MGE Energy by 4.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,671 shares of the utilities provider’s stock worth $366,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Insider Activity

In other news, Director James G. Berbee purchased 373 shares of the stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the transaction, the director owned 9,362 shares in the company, valued at $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MGEE shares. Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 target price on shares of MGE Energy in a report on Thursday, May 21st. Wall Street Zen raised MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Friday, May 8th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MGE Energy has a consensus rating of “Reduce” and an average target price of $76.50.

MGE Energy Stock Up 0.5%

MGEE opened at $76.38 on Thursday. MGE Energy Inc. has a 12 month low of $72.17 and a 12 month high of $91.49. The stock has a market cap of $2.81 billion, a P/E ratio of 19.58 and a beta of 0.76. The stock’s 50 day moving average price is $77.34 and its 200 day moving average price is $79.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%.The company had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $227.06 million. As a group, research analysts predict that MGE Energy Inc. will post 3.94 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.475 per share. The ex-dividend date is Monday, June 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.5%. MGE Energy’s dividend payout ratio (DPR) is 48.72%.

MGE Energy 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.