James Berbee Buys 261 Shares of MGE Energy (NASDAQ:MGEE) Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee acquired 261 shares of MGE Energy stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $81.30 per share, for a total transaction of $21,219.30. Following the purchase, the director owned 9,738 shares in the company, valued at approximately $791,699.40. The trade was a 2.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MGE Energy Price Performance

Shares of MGEE traded down $0.76 during mid-day trading on Thursday, hitting $80.48. 89,813 shares of the stock were exchanged, compared to its average volume of 228,257. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market cap of $3.04 billion, a PE ratio of 19.77 and a beta of 0.71. MGE Energy Inc. has a 52-week low of $72.16 and a 52-week high of $88.01. The firm has a 50-day moving average of $80.42 and a two-hundred day moving average of $78.83.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, beating 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 firm had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. On average, equities analysts predict that MGE Energy Inc. will post 3.99 earnings per share for the current year.

Hedge Funds Weigh In On MGE Energy

Several large investors have recently modified their holdings of MGEE. Headlands Technologies LLC bought a new position in shares of MGE Energy during the 2nd quarter valued at approximately $371,000. Northwestern Mutual Wealth Management Co. lifted its position in MGE Energy by 1.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,379 shares of the utilities provider’s stock worth $846,000 after buying an additional 138 shares during the last quarter. Van ECK Associates Corp lifted its position in MGE Energy by 5.3% in the second quarter. Van ECK Associates Corp now owns 15,644 shares of the utilities provider’s stock worth $1,276,000 after buying an additional 782 shares during the last quarter. Hsbc Holdings PLC purchased a new position in MGE Energy during the second quarter worth $1,194,000. Finally, North Star Asset Management Inc. purchased a new position in MGE Energy during the second quarter worth $432,000. Institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

MGEE has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research note on Wednesday, August 5th. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Monday, June 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $76.00 price target on shares of MGE Energy in a report on Wednesday, July 22nd. One equities research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.50.

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.