MGE Energy Inc. $MGEE Shares Sold by Caitlin John LLC

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 cut its stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 66.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,051 shares of the utilities provider's stock after selling 9,823 shares during the quarter. Caitlin John LLC's holdings in MGE Energy were worth $470,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Focus Partners Wealth purchased a new position in shares of MGE Energy during the fourth quarter worth $116,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in MGE Energy during the 1st quarter worth about $139,000. Benjamin Edwards Inc. purchased a new stake in shares of MGE Energy in the fourth quarter worth about $200,000. Twinbeech Capital LP acquired a new stake in MGE Energy during the fourth quarter worth about $209,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in MGE Energy during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Price Performance

Shares of NASDAQ MGEE traded up $0.19 during trading on Wednesday, hitting $87.61. The company had a trading volume of 146,792 shares, compared to its average volume of 147,978. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 24.34 and a beta of 0.76. MGE Energy Inc. has a fifty-two week low of $82.21 and a fifty-two week high of $109.22. The stock has a fifty day simple moving average of $86.57 and a two-hundred day simple moving average of $89.21. 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 (NASDAQ:MGEE - Get Free Report) last posted 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 firm had revenue of $159.45 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. On average, research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Increases Dividend

The business 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 represents a $1.90 annualized dividend and a dividend yield of 2.2%. This is an increase from MGE Energy's previous quarterly dividend of $0.45. MGE Energy's payout ratio is presently 52.78%.

Analysts Set New Price Targets

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

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 stock was purchased at an average price of $83.83 per share, with a total value of $42,501.81. Following the completion of the acquisition, the director owned 6,329 shares in the company, valued at $530,560.07. This trade represents a 8.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by company insiders.

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.