Insider Buying: MGE Energy (NASDAQ:MGEE) Director Buys $21,219.30 in Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee bought 261 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were acquired at an average price of $81.30 per share, for a total transaction of $21,219.30. Following the completion of the acquisition, the director owned 9,738 shares in the company, valued at $791,699.40. This represents a 2.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

MGE Energy Trading Down 2.3%

NASDAQ:MGEE opened at $78.66 on Friday. MGE Energy Inc. has a one year low of $72.16 and a one year high of $88.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market cap of $2.97 billion, a P/E ratio of 19.33 and a beta of 0.71. The firm has a 50-day simple moving average of $80.51 and a 200-day simple moving average of $78.83.

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

Analyst Upgrades and Downgrades

MGEE has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. LADENBURG THALM/SH SH upgraded MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Monday, June 8th. Finally, Morgan Stanley dropped their price objective on MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.50.

Institutional Investors Weigh In On MGE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of MGEE. Hantz Financial Services Inc. grew its holdings in MGE Energy by 63.8% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 162 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of MGE Energy during the third quarter worth $40,000. Avalon Trust Co purchased a new stake in shares of MGE Energy during the 2nd quarter valued at $49,000. Highland Investment Advisors LLC purchased a new stake in shares of MGE Energy during the 2nd quarter valued at $60,000. Finally, Parallel Advisors LLC boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.