Caitlin John LLC Decreases Stock Position in MGE Energy Inc. $MGEE

Key Points

• Caitlin John LLC reduced its holdings in MGE Energy Inc. by 66.0% in the first quarter, now owning 5,051 shares valued at approximately $470,000 after selling 9,823 shares.
• MGE Energy recently increased its quarterly dividend to $0.475 per share, up from $0.45, with a dividend yield of 2.2%.
• Analysts have downgraded MGE Energy's stock rating to "Sell", with a consensus target price of $74.00 and the company reported a miss on EPS estimates in its latest earnings results.

Caitlin John LLC decreased its holdings in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,051 shares of the utilities provider's stock after selling 9,823 shares during the period. Caitlin John LLC's holdings in MGE Energy were worth $470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MGEE. Wells Fargo & Company MN grew its position in MGE Energy by 26.8% during the 4th quarter. Wells Fargo & Company MN now owns 28,661 shares of the utilities provider's stock worth $2,693,000 after acquiring an additional 6,053 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of MGE Energy in the 4th quarter valued at about $781,000. Guggenheim Capital LLC acquired a new position in shares of MGE Energy in the 4th quarter valued at about $232,000. First Trust Advisors LP lifted its stake in shares of MGE Energy by 37.7% in the 4th quarter. First Trust Advisors LP now owns 84,274 shares of the utilities provider's stock valued at $7,918,000 after purchasing an additional 23,079 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock worth $72,314,000 after acquiring an additional 2,225 shares in the last quarter. Institutional investors own 52.58% of the company's stock.

Insider Activity

In other MGE Energy news, Director James G. Berbee bought 507 shares of the stock in a transaction dated Friday, August 15th. The stock was purchased at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the acquisition, the director owned 6,329 shares of the company's stock, valued at approximately $530,560.07. This trade represents a 8.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MGEE. Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley reaffirmed an "underweight" rating on shares of MGE Energy in a research report on Thursday, August 21st. Finally, LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell" and a consensus price target of $74.00.

MGE Energy Trading Down 1.3%

Shares of MGEE traded down $1.15 during trading hours on Thursday, hitting $86.35. The company had a trading volume of 20,899 shares, compared to its average volume of 147,190. The firm has a market cap of $3.16 billion, a P/E ratio of 23.98 and a beta of 0.76. The stock's 50 day moving average price is $86.54 and its 200 day moving average price is $89.20. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. MGE Energy Inc. has a 52-week low of $82.21 and a 52-week high of $109.22.

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

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, August 29th. This is a positive change from MGE Energy's previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 2.2%. MGE Energy's dividend payout ratio (DPR) is 50.00%.

MGE Energy 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.