Squarepoint Ops LLC Buys New Position in MGE Energy, Inc. (NASDAQ:MGEE)

Squarepoint Ops LLC bought a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,867 shares of the utilities provider’s stock, valued at approximately $1,303,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its holdings in MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 584 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 929 shares in the last quarter. Focus Partners Wealth bought a new position in MGE Energy in the fourth quarter worth approximately $116,000. KBC Group NV boosted its holdings in MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 360 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in MGE Energy by 7,321.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 1,684 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Down 0.2%

MGEE stock opened at $90.21 on Friday. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $90.56 and its 200-day moving average is $93.07. The firm has a market capitalization of $3.30 billion, a PE ratio of 27.59 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The company had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. Sell-side analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a $0.45 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.00%. MGE Energy’s dividend payout ratio is presently 50.85%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a report on Friday, May 9th. Morgan Stanley dropped their target price on MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a report on Thursday, May 22nd.

Insider Activity

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the transaction, the director now owns 11,532 shares of the company’s stock, valued at $1,047,451.56. The trade was a 4.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

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.