Alpine Global Management LLC Buys New Shares in MGE Energy, Inc. (NASDAQ:MGEE)

Alpine Global Management LLC acquired a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,480 shares of the utilities provider's stock, valued at approximately $797,000.

A number of other hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after purchasing an additional 584 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares during the period. Focus Partners Wealth purchased a new stake in shares of MGE Energy in the fourth quarter worth approximately $116,000. KBC Group NV lifted its stake in shares of MGE Energy by 32.2% during the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after acquiring an additional 360 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in MGE Energy by 7,321.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock valued at $160,000 after acquiring an additional 1,684 shares during the period. Institutional investors own 52.58% of the company's stock.

MGE Energy Trading Down 1.1%

Shares of NASDAQ:MGEE traded down $0.98 during trading on Wednesday, reaching $89.83. 16,663 shares of the company were exchanged, compared to its average volume of 138,419. The business's fifty day simple moving average is $90.63 and its 200-day simple moving average is $93.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The firm has a market capitalization of $3.28 billion, a PE ratio of 27.47 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. On average, research analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. MGE Energy's dividend payout ratio is currently 50.85%.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee bought 446 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $90.83 per share, with a total value of $40,510.18. Following the transaction, the director now owns 11,532 shares of the company's stock, valued at $1,047,451.56. The trade was a 4.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MGEE. Morgan Stanley cut their price objective on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a report on Friday, May 9th.

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.