Key Points
- Director James Berbee purchased 373 shares at an average price of $77.74 on March 11 for $28,997, increasing his holdings to 9,362 shares (a 4.15% rise).
- MGE Energy declared a quarterly dividend of $0.475 per share (ex-dividend Feb 27, payable Mar 15), which annualizes to $1.90 and yields about 2.6%.
- Analysts’ consensus is "Reduce" with an average price target of $78.00; the stock recently traded near $74.48 and carries a market cap of about $2.72 billion (PE ~20.0).
MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) Director James Berbee purchased 373 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the acquisition, the director directly owned 9,362 shares in the company, valued at $727,801.88. This trade represents a 4.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
MGE Energy Trading Up 1.0%
MGEE stock traded up $0.71 during mid-day trading on Friday, reaching $74.48. 124,360 shares of the stock traded hands, compared to its average volume of 129,459. MGE Energy Inc. has a one year low of $72.78 and a one year high of $94.79. The stock has a market capitalization of $2.72 billion, a PE ratio of 20.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.77. The business has a 50-day moving average price of $79.67 and a two-hundred day moving average price of $81.71.
MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $0.64 EPS for the quarter, hitting analysts' consensus estimates of $0.64. The firm had revenue of $189.55 million during the quarter. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. Equities research analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.
MGE Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, February 27th. This represents a $1.90 dividend on an annualized basis and a yield of 2.6%. MGE Energy's payout ratio is presently 51.08%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on MGEE. Wall Street Zen upgraded shares of MGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Morgan Stanley lowered their price target on MGE Energy from $74.00 to $73.00 and set an "underweight" rating for the company in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of MGE Energy in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $78.00.
Check Out Our Latest Research Report on MGEE
Hedge Funds Weigh In On MGE Energy
Several institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its holdings in MGE Energy by 63.8% during the fourth 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 purchased a new position in MGE Energy in the third quarter valued at about $40,000. Steward Partners Investment Advisory LLC raised its holdings in MGE Energy by 107.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider's stock worth $43,000 after purchasing an additional 251 shares in the last quarter. eCIO Inc. purchased a new stake in shares of MGE Energy during the fourth quarter valued at about $45,000. Finally, Parallel Advisors LLC grew 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 buying an additional 159 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.
About MGE Energy
(
Get Free Report)
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.
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