AlphaQuest LLC Acquires 7,435 Shares of MGE Energy Inc. $MGEE

AlphaQuest LLC increased its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 90.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,696 shares of the utilities provider’s stock after buying an additional 7,435 shares during the period. AlphaQuest LLC’s holdings in MGE Energy were worth $1,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Focus Partners Wealth bought a new position in MGE Energy in the 4th quarter worth approximately $116,000. MJT & Associates Financial Advisory Group Inc. bought a new position in MGE Energy in the 1st quarter worth approximately $139,000. Benjamin Edwards Inc. purchased a new stake in MGE Energy in the 4th quarter worth approximately $200,000. Twinbeech Capital LP purchased a new stake in MGE Energy in the 4th quarter worth approximately $209,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in MGE Energy in the 4th quarter worth approximately $211,000. 52.58% of the stock is owned by institutional investors.

MGE Energy Stock Performance

MGE Energy stock opened at $87.74 on Friday. The firm’s fifty day moving average price is $86.63 and its 200-day moving average price is $89.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. The stock has a market cap of $3.21 billion, a P/E ratio of 24.37 and a beta of 0.76. MGE Energy Inc. has a fifty-two week low of $82.21 and a fifty-two week high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $159.45 million for the quarter. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. On average, equities research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.475 per share. This is an increase from MGE Energy’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 29th. This represents a $1.90 annualized dividend and a dividend yield of 2.2%. MGE Energy’s dividend payout ratio is 50.00%.

Analysts Set New Price Targets

MGEE has been the topic of several recent analyst reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Friday, May 9th. Morgan Stanley lowered their target price on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen cut shares of MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $74.00.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee acquired 507 shares of the stock in a transaction dated Friday, August 15th. The shares were purchased at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the transaction, the director owned 6,329 shares in the company, valued at $530,560.07. This represents a 8.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.