Thompson Investment Management Inc. raised its position in MGE Energy Inc. (NASDAQ:MGEE) by 66.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,134 shares of the utilities provider’s stock after buying an additional 4,039 shares during the quarter. Thompson Investment Management Inc.’s holdings in MGE Energy were worth $655,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. increased its stake in MGE Energy by 25.2% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,899 shares of the utilities provider’s stock valued at $1,996,000 after buying an additional 6,210 shares during the period. Prudential Financial Inc. increased its stake in MGE Energy by 23.3% in the 3rd quarter. Prudential Financial Inc. now owns 119,809 shares of the utilities provider’s stock valued at $7,740,000 after buying an additional 22,670 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in MGE Energy by 38.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,301 shares of the utilities provider’s stock valued at $601,000 after buying an additional 2,604 shares during the period. First Trust Advisors LP increased its stake in MGE Energy by 4,817.6% in the 3rd quarter. First Trust Advisors LP now owns 314,777 shares of the utilities provider’s stock valued at $20,335,000 after buying an additional 308,376 shares during the period. Finally, Shell Asset Management Co. increased its stake in MGE Energy by 159.8% in the 3rd quarter. Shell Asset Management Co. now owns 47,778 shares of the utilities provider’s stock valued at $1,780,000 after buying an additional 29,389 shares during the period. 38.04% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on MGEE. BidaskClub cut shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Gabelli reaffirmed a “hold” rating on shares of MGE Energy in a research note on Monday. Finally, Zacks Investment Research raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th.
In related news, insider Jeffrey M. Keebler purchased 547 shares of the stock in a transaction dated Tuesday, September 5th. The shares were acquired at an average cost of $64.02 per share, with a total value of $35,018.94. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.
MGE Energy Inc. (MGEE) traded up $0.70 during trading hours on Friday, hitting $64.90. 77,900 shares of the stock were exchanged, compared to its average volume of 88,935. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.47 and a current ratio of 3.02. MGE Energy Inc. has a fifty-two week low of $58.08 and a fifty-two week high of $68.70. The firm has a market cap of $2,225.71, a PE ratio of 29.18 and a beta of 0.34.
MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.77 earnings per share for the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%. The business had revenue of $139.54 million for the quarter. analysts forecast that MGE Energy Inc. will post 2.2 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.99%. MGE Energy’s dividend payout ratio (DPR) is presently 58.64%.
MGE Energy Profile
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
Want to see what other hedge funds are holding MGEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGE Energy Inc. (NASDAQ:MGEE).
Receive News & Ratings for MGE Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGE Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.