Madison Wealth Partners Inc Raises Stock Position in MGE Energy Inc. $MGEE

Madison Wealth Partners Inc increased its stake in MGE Energy Inc. (NASDAQ:MGEE) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,524 shares of the utilities provider’s stock after acquiring an additional 294 shares during the quarter. MGE Energy makes up about 0.6% of Madison Wealth Partners Inc’s portfolio, making the stock its 27th biggest holding. Madison Wealth Partners Inc’s holdings in MGE Energy were worth $2,611,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Trust Co. NA purchased a new stake in MGE Energy in the 2nd quarter worth $45,000. Harbour Investments Inc. boosted its stake in MGE Energy by 3.8% during the 2nd quarter. Harbour Investments Inc. now owns 69,820 shares of the utilities provider’s stock worth $6,175,000 after purchasing an additional 2,535 shares during the last quarter. Yousif Capital Management LLC boosted its stake in MGE Energy by 2.0% during the 2nd quarter. Yousif Capital Management LLC now owns 13,618 shares of the utilities provider’s stock worth $1,204,000 after purchasing an additional 267 shares during the last quarter. Inspire Investing LLC boosted its stake in MGE Energy by 20.1% during the 2nd quarter. Inspire Investing LLC now owns 4,452 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 744 shares during the last quarter. Finally, US Bancorp DE boosted its stake in MGE Energy by 5.6% during the 2nd quarter. US Bancorp DE now owns 41,695 shares of the utilities provider’s stock worth $3,688,000 after purchasing an additional 2,216 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of MGE Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH raised shares of MGE Energy from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $69.00 to $83.00 in a research note on Thursday, September 11th. Morgan Stanley lowered their target price on shares of MGE Energy from $76.00 to $75.00 and set an “underweight” rating on the stock in a research note on Thursday, September 25th. 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 investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MGE Energy presently has a consensus rating of “Reduce” and a consensus target price of $79.00.

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee purchased 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, with a total value of $42,501.81. Following the transaction, the director owned 6,329 shares in the company, valued at $530,560.07. The trade was a 8.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

MGE Energy Trading Down 0.0%

Shares of MGEE stock opened at $84.31 on Monday. The company’s 50-day moving average price is $84.41 and its 200-day moving average price is $87.23. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 23.42 and a beta of 0.79. MGE Energy Inc. has a twelve month low of $81.14 and a twelve month high of $109.22.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results 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 firm 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%. As a group, equities analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 29th. This is a positive change from MGE Energy’s previous quarterly dividend of $0.45. MGE Energy’s dividend payout ratio is presently 52.78%.

About MGE Energy

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.