FORM Wealth Advisors LLC Buys New Shares in MGE Energy Inc. (NASDAQ:MGEE)

FORM Wealth Advisors LLC purchased a new position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,683 shares of the utilities provider's stock, valued at approximately $807,000. MGE Energy comprises 0.1% of FORM Wealth Advisors LLC's holdings, making the stock its 27th largest position.

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after buying an additional 584 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in MGE Energy by 507.7% during the 4th 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 last quarter. Focus Partners Wealth purchased a new stake in MGE Energy during the 4th quarter worth about $116,000. Farther Finance Advisors LLC lifted 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 worth $160,000 after buying an additional 1,684 shares during the last quarter. Finally, EnRich Financial Partners LLC lifted its holdings in MGE Energy by 8.7% during the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock worth $164,000 after buying an additional 139 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley cut their target price 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 MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

MGE Energy Stock Up 1.3%

MGEE opened at $89.48 on Tuesday. The business's 50-day simple moving average is $90.14 and its 200-day simple moving average is $91.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. MGE Energy Inc. has a one year low of $72.27 and a one year high of $109.22. The stock has a market capitalization of $3.27 billion, a P/E ratio of 25.28 and a beta of 0.78.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. The business had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. Analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy's dividend payout ratio (DPR) is presently 50.85%.

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.

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