Insider Buying: MGE Energy (NASDAQ:MGEE) Director Acquires $42,501.81 in Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee acquired 507 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $83.83 per share, with a total value of $42,501.81. Following the completion of the purchase, the director owned 6,329 shares of the company’s stock, valued at $530,560.07. This trade represents a 8.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

MGE Energy Stock Up 0.2%

Shares of MGE Energy stock opened at $85.10 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. MGE Energy Inc. has a 12 month low of $82.21 and a 12 month high of $109.22. The business has a fifty day simple moving average of $86.71 and a 200 day simple moving average of $89.31. The stock has a market cap of $3.11 billion, a PE ratio of 23.64 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). MGE Energy had a return on equity of 10.58% and a net margin of 18.24%.The company had revenue of $159.45 million for the quarter. Research analysts predict that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from MGE Energy’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 29th. MGE Energy’s payout ratio is presently 52.78%.

Analysts Set New Price Targets

A number of brokerages recently commented on MGEE. Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research note on Friday, May 9th. Finally, Morgan Stanley decreased their target price on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, MGE Energy has an average rating of “Sell” and an average target price of $74.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its position in shares of MGE Energy by 1.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider’s stock worth $671,000 after buying an additional 126 shares during the period. Xponance Inc. boosted its position in shares of MGE Energy by 5.1% during the first quarter. Xponance Inc. now owns 2,725 shares of the utilities provider’s stock worth $253,000 after buying an additional 131 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of MGE Energy by 47.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock worth $47,000 after buying an additional 169 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of MGE Energy by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider’s stock worth $358,000 after buying an additional 172 shares during the period. Finally, Maryland State Retirement & Pension System boosted its position in shares of MGE Energy by 1.6% during the second quarter. Maryland State Retirement & Pension System now owns 10,738 shares of the utilities provider’s stock worth $950,000 after buying an additional 172 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Company 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.