MGE Energy Inc. (NASDAQ:MGEE) Shares Acquired by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. increased its position in MGE Energy Inc. by 8.7%, owning 67,285 shares valued at approximately $6.26 million after acquiring additional shares in the first quarter.
• Several institutional investors, including Sterling Capital Management LLC and Focus Partners Wealth, have significantly modified their holdings in MGE Energy, with institutional investors collectively owning 52.58% of the stock.
• MGE Energy reported better-than-expected earnings of $1.14 EPS for the last quarter, exceeding the analysts' consensus estimates while also announcing a quarterly dividend of $0.45, reflecting an annual yield of 2.15%.

Harbour Investments Inc. grew its position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 8.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 67,285 shares of the utilities provider's stock after acquiring an additional 5,402 shares during the quarter. Harbour Investments Inc. owned about 0.18% of MGE Energy worth $6,255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position 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 buying an additional 584 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of MGE Energy in the 4th quarter worth approximately $116,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of MGE Energy in the 1st quarter worth approximately $139,000. EnRich Financial Partners LLC lifted its position in shares of MGE Energy by 8.7% in the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock worth $164,000 after purchasing an additional 139 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in shares of MGE Energy in the 4th quarter worth approximately $200,000. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Performance

NASDAQ:MGEE traded up $1.22 during trading hours on Monday, reaching $85.18. The company had a trading volume of 33,745 shares, compared to its average volume of 149,325. MGE Energy Inc. has a 1-year low of $82.21 and a 1-year high of $109.22. The firm has a market cap of $3.11 billion, a PE ratio of 24.06 and a beta of 0.76. The business's 50 day moving average price is $88.04 and its 200-day moving average price is $89.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.07 and a quick ratio of 1.49.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. Research analysts forecast 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. Shareholders of record on Sunday, June 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. MGE Energy's dividend payout ratio (DPR) is currently 50.85%.

Analysts Set New Price Targets

Several research firms have issued reports on MGEE. 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 note on Thursday, May 22nd. Wall Street Zen lowered MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research note 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.