MGE Energy (NASDAQ:MGEE) Director James Berbee Acquires 275 Shares of Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee bought 275 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was acquired at an average cost of $77.35 per share, with a total value of $21,271.25. Following the transaction, the director owned 10,013 shares of the company’s stock, valued at $774,505.55. This trade represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MGE Energy Stock Up 0.1%

Shares of MGE Energy stock opened at $76.48 on Friday. The stock has a 50-day moving average price of $80.17 and a 200 day moving average price of $78.54. The company has a market cap of $2.89 billion, a P/E ratio of 18.79 and a beta of 0.70. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 1 year low of $72.16 and a 1 year high of $87.94.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%. As a group, analysts expect that MGE Energy Inc. will post 3.99 EPS for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.5083 dividend. This represents a $2.03 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from MGE Energy’s previous quarterly dividend of $0.47. MGE Energy’s dividend payout ratio (DPR) is presently 49.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. Hantz Financial Services Inc. lifted its position in shares of MGE Energy by 63.8% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after buying an additional 162 shares during the period. Advisory Services Network LLC acquired a new position in MGE Energy during the third quarter worth $40,000. Avalon Trust Co bought a new position in shares of MGE Energy during the second quarter valued at $49,000. Highland Investment Advisors LLC acquired a new stake in shares of MGE Energy in the 2nd quarter valued at $60,000. Finally, Parallel Advisors LLC grew its holdings in shares of MGE Energy by 28.6% in the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MGEE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price target for the company in a report on Monday, June 8th. Finally, Morgan Stanley reduced their target price on shares of MGE Energy from $76.00 to $74.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MGE Energy has a consensus rating of “Hold” and a consensus target price of $77.50.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to residential, commercial and industrial customers in south-central Wisconsin.

The company’s operations include generating, purchasing, transmitting and distributing electricity, as well as distributing natural gas. MGE Energy’s generation portfolio includes renewable resources such as wind and solar, along with other generation and purchased-power arrangements.