Caitlin John LLC Grows Stock Holdings in MGE Energy Inc. $MGEE

Key Points

• Caitlin John LLC increased its holdings in MGE Energy Inc. by 105.3% in Q2, now owning 10,369 shares valued at approximately $917,000.
• MGE Energy recently announced a quarterly dividend of $0.475 per share, which reflects an increase from the previous dividend and results in a 2.3% yield.
• The stock has a market capitalization of $3.07 billion and analysts forecast an EPS of 3.43 for the current year.

Caitlin John LLC grew its position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 105.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,369 shares of the utilities provider's stock after purchasing an additional 5,318 shares during the period. Caitlin John LLC's holdings in MGE Energy were worth $917,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in MGE Energy by 47.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider's stock worth $47,000 after purchasing an additional 169 shares during the last quarter. eCIO Inc. acquired a new stake in shares of MGE Energy in the 1st quarter worth $53,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of MGE Energy in the 1st quarter worth $139,000. Focus Partners Wealth grew its holdings in shares of MGE Energy by 84.9% during the first quarter. Focus Partners Wealth now owns 2,291 shares of the utilities provider's stock valued at $213,000 after buying an additional 1,052 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of MGE Energy during the first quarter valued at $220,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

Insider Activity

In related news, Director James G. Berbee purchased 507 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the purchase, the director directly owned 6,329 shares of the company's stock, valued at $530,560.07. The trade was a 8.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company's stock.

MGE Energy Trading Down 0.2%

Shares of NASDAQ:MGEE traded down $0.13 during mid-day trading on Monday, reaching $83.85. 154,271 shares of the company were exchanged, compared to its average volume of 143,176. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 23.29 and a beta of 0.80. The firm's 50-day simple moving average is $85.01 and its 200 day simple moving average is $88.36. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The business had revenue of $159.45 million during the quarter. Equities research analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The company also recently disclosed 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 is an increase from MGE Energy's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy's dividend payout ratio is presently 52.78%.

Analyst Ratings Changes

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH raised shares of MGE Energy from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $69.00 to $83.00 in a report on Thursday, September 11th. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a research report on Thursday, August 21st. Finally, Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MGE Energy has a consensus rating of "Reduce" and a consensus target price of $78.50.

MGE Energy Company Profile

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.